Adobe's (ADBE) key partnerships and new agentic tools highlighted at its Adobe Summit event support its transition toward a broader platform and ecosystem and could drive longer-term annual recurring revenue growth, a key metric for investors, RBC Capital Markets said.

Adobe is aiming to move towards becoming a broad platform and ecosystem rather than just providing a set of tools to solve point problems. In the investor session, the company highlighted its roadmap around agentic AI products and partnerships designed to provide a single platform for end-to-end marketing workflow orchestration, the brokerage said.

On the partnerships side, RBC said the two most interesting collaborations are the go-to-market partnerships with large advertising agencies and system integrators and agentic partnerships with major AI and technology platforms. Adobe needs to be integrated with the broader omnichannel ecosystem to become an orchestration layer for marketing.

The company demonstrating that its Experience Cloud delivers clear return on investment will be key to expanding enterprise and creative customer spending and increasing wallet share, the investment firm said in a Tuesday note.

RBC maintained the company's stock rating at outperform and price target at $350.

Shares of Adobe were up 3.3% in Wednesday trading.

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