Intuit IncNasdaq: INTU
Information Technology · Application Software
$268.11
-0.36%
Vol: 5.1M
Research Digest
Friday, June 19, 2026
No significant overnight updates
No material news in the last 48 hours.
Previous Market Intelligence
13 daysJun 18Intuit is under heavy pressure after a Goldman Sachs Sell downgrade and Stifel cut citing AI threats to TurboTax, with the stock near multi-year lows and securities-fraud probes circling.Negative▶
Intuit stock has crashed roughly 28% over the past month and ~39% over three months, hovering near its lowest level since September 2020 at about $270. Goldman Sachs downgraded the stock to Sell, arguing AI tools threaten TurboTax's assisted/DIY tax revenue, while Stifel cut to Hold from Buy and slashed its target to $275 from $375. Director Richard Dalzell sold 284 shares on June 16, 2026, and multiple securities law firms have announced investigations into potential securities fraud. The pressure comes despite Intuit having raised FY2026 revenue guidance to ~$21.34-21.37B (13-14% growth) and beating its prior quarter EPS at $12.8 vs $12.57 expected. The bear case is structural: generative AI could commoditize tax-prep and erode Intuit's pricing power in its core franchise, and the legal probes add overhang ahead of the Aug 20 earnings date.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16Intuit shares remain under pressure following Goldman Sachs' June 2 downgrade to Sell and an ongoing securities-fraud probe over TurboTax pricing claims.Negative▶
Goldman Sachs analyst Gabriela Borges downgraded Intuit to Sell from Neutral with a price target of $276, slashed from $519, sending the stock down about 10% on June 2 and contributing to a roughly 56% year-to-date decline. The stock traded between $276.21 and $287.69 on June 15, near $281. Separately, BFA Law is investigating whether Intuit committed securities fraud relating to representations about TurboTax's price positioning among DIY tax filers during the 2026 tax season. The company is also executing a 17% workforce reduction even as it raised full-year revenue guidance after May 20 Q3 results (EPS $12.8 vs $12.57 est). The risk is that the legal investigation and bearish analyst stance continue to weigh on a stock that has already lost more than half its value this year. Next earnings are due Aug 20, 2026.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Intuit beats fiscal Q3, raises FY2026 guidance and cuts 17% of workforce (3,000+ jobs) in AI restructuring; stock drops 11% after-hoursNegative▶
On May 20, 2026, Intuit posted fiscal Q3 revenue of $8.56B (up 10.4% YoY) and raised FY2026 guidance to $21.34B-$21.37B in revenue and $23.80-$23.85 adjusted EPS. TurboTax revenue grew 7% to $4.4B. The board also approved a $1.20 per-share cash dividend payable in July. The bigger story: CEO Sasan Goodarzi announced layoffs of 17% of full-time staff (over 3,000 of 18,200 employees), triggering $300M-$340M in charges this quarter, to flatten management layers and refocus on AI. Intuit also signed multi-year deals with Anthropic and OpenAI to embed their models. Despite the beat and raise, shares fell ~11% after-hours and are down >40% YTD.
May 20Intuit reports fiscal Q3 2026 earnings after the bell on May 20 with consensus calling for $8.54B revenue and $12.57 EPS, following a 3.66% rally on May 19 fueled by AI product momentum.Positive▶
Intuit shares climbed 3.66% on May 19, 2026 ahead of its Q3 FY2026 earnings release scheduled for after market close on May 20, 2026. Consensus estimates project revenue of $8.54B and EPS of $12.57. Early-May product announcements bolstered investor confidence, including major AI-powered enhancements to the Intuit Enterprise Suite and the launch of QuickBooks Workforce, a new agentic-AI-powered HCM platform integrating payroll, time tracking, benefits, hiring, and performance for small and mid-market businesses. The stock received a Zacks Rank #2 (Buy) upgrade on May 18, 2026. Despite a 41.4% decline over the past six months, analyst consensus is Strong Buy with a $799.32 average 12-month target, implying ~47% upside. Marianna Tessel steps down as EVP/GM Small Business Group effective May 31, with Ashley Still expanding her role.
May 19Intuit shares rebound ahead of May 20 Q3 FY26 earnings as investors refocus on AI partnerships with OpenAI and AnthropicMixed▶
Intuit stock rose 3.5%-4.35% on May 15 as traders positioned ahead of its third-quarter fiscal 2026 earnings release scheduled for May 20, 2026, with analysts expecting EPS of $12.48. The rebound also reflects renewed optimism around recently announced AI initiatives, including a multi-year strategic partnership with OpenAI and a separate Anthropic collaboration to embed customizable agentic AI across QuickBooks and Intuit Enterprise Suite. The company unveiled QuickBooks Workforce, an end-to-end agentic-AI human-capital-management solution, and rolled out Spring 2026 enhancements to the Intuit Enterprise Suite. The bear case is that INTU is still down ~40% YTD on AI-disruption concerns for tax/SMB software, and TD Cowen on May 11 cut its price target from $633 to $576. The Street consensus remains Strong Buy with a $799.32 target.
May 18Intuit rallies 4.35% on May 15 ahead of fiscal Q3 2026 earnings May 20 (consensus $12.57 EPS, $8.54B revenue) following QuickBooks Workforce launch and AI announcementsMixed▶
Intuit will report fiscal Q3 2026 results on May 20, 2026 after market close, with analysts expecting EPS of $12.57 and revenue of $8.54 billion. Shares rose 4.35% on May 15 and 3.24% on May 14 as traders positioned ahead of earnings, also boosted by the launch of QuickBooks Workforce (an HCM solution automating payroll, time tracking, benefits, recruiting, and hiring on a single platform) and Intuit Enterprise Suite enhancements with AI-powered insights for mid-market businesses. The company also announced a multi-year AI partnership with Anthropic for customizable AI agents. Bear case: TD Cowen cut its price target from $633 to $576 on May 11, sending shares down 4.35% on May 13; a class action lawsuit filed May 8 alleges TurboTax Refund Advance loans carry excessive APRs, and IRS Direct File program expansion threatens the high-margin TurboTax franchise.
May 15Intuit expanded its AI Enterprise Suite on May 13 ahead of its May 20 fiscal Q3 earnings, with TD Cowen cutting its price target to $576 from $633.Mixed▶
On May 13, 2026, Intuit announced enhancements to its Intuit Enterprise Suite, integrating AI-powered real-time financial management, multi-entity close automation, dimensional reporting, construction-specific features, and HCM via QuickBooks Workforce. The stock fell 4.35% on May 13 after TD Cowen lowered its price target to $576 from $633 amid AI disruption concerns; shares rebounded 3.24% on May 14. Intuit will report fiscal Q3 2026 results on May 20 after market close. A class action lawsuit filed May 8 alleges TurboTax's Refund Advance loans charge service members rates above legal caps, adding regulatory risk. Average analyst rating remains Buy.
May 14Intuit shares fell 4.1% on May 13 amid AI disruption fears and TD Cowen price target cut ahead of May 20 Q3 earningsNegative▶
Intuit stock dropped 4.35% on May 13, 2026, closing at $371.71, as AI disruption concerns pressured the software stock heading into its fiscal Q3 2026 earnings on May 20. TD Cowen lowered its price target from $633 to $576 on May 11 while maintaining a Buy rating. The decline follows a strong Q2 report (revenue $4.65B, +17.4% YoY; EPS $4.15 vs. $3.68 consensus) and product launches including QuickBooks Workforce HCM and AI-powered Intuit Enterprise Suite upgrades. A class action lawsuit filed May 8 alleges TurboTax Refund Advance loans harm U.S. service members with APRs above legal caps. Bear case: AI agents like ChatGPT and emerging fintechs threaten to disintermediate TurboTax and QuickBooks. Consensus 12-month target remains $698.67 per 21 analysts.
May 13Intuit set to report Q3 FY26 results on May 20 with Street modeling $12.48 EPS and $8.54B revenue amid AI product push.Mixed▶
Intuit is scheduled to release Q3 FY2026 earnings after market close on May 20, with analyst estimates of $12.48 EPS and $8.54B revenue - a key print covering peak tax season. Recent corporate moves include FedNow service certification for instant payments, a partnership with Anthropic to embed custom AI agents into financial products, and the launch of QuickBooks Workforce HR platform. Stock is down ~4% over the past week and down 42% YoY despite analyst Strong Buy consensus and an average 12-month PT of $592 (~51% upside). Risk: SaaS valuation compression and consumer pushback on tax-prep pricing have weighed on multiples even as fundamentals remain solid.
May 12Intuit launches QuickBooks Workforce HCM platform; Q3 FY26 earnings due May 20 after Q2 EPS beat sent stock up 4.9%Positive▶
On May 7, 2026, Intuit launched QuickBooks Workforce, an AI-powered end-to-end human capital management platform addressing the fragmentation of HR tools (small/mid-market businesses typically use 7-25 different tools). The launch comes ahead of Intuit's Q3 FY2026 earnings release scheduled for May 20 after market close. Q2 FY26 had beat with EPS $4.15 vs $3.68 consensus and revenue $4.65B vs $4.53B (+17.4% YoY), driving the stock up 4.9% on May 7. TipRanks trimmed PT to $576 from $633 while reaffirming Buy, with 21-analyst Buy consensus as of May 6. Leadership shift: EVP Marianna Tessel will step down from Small Business Group on May 31, with Ashley Still expanding her remit to lead both Mid-Market and Small Business Groups. Stock around $393.70.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| INTUINTUIT | $268.11 | -0.36% | +5.0% | 10.1x | 1.00 | $75.3B |
| ORCLORACLE | $184.72 | +0.65% | -11.0% | 12.8x | 1.71 | $404.0B |
| PLTRPALANTIR | $128.65 | -1.52% | +13.9% | 61.7x | 1.56 | $310.0B |
| APPAPPLOVIN | $469.95 | -1.99% | +13.4% | 24.3x | 2.48 | $177.1B |
| CRMSALESFORCE | $151.46 | -2.30% | +8.7% | 10.7x | 1.18 | $136.0B |
| CDNSCADENCE | $387.46 | -0.55% | +0.2% | 39.7x | 1.15 | $102.9B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.