On August 25, Intuit declined 3.05% in regular trading, trading at $358.76/share, with turnover of $801 million. The stock came under pressure as the company prepared to release quarterly earnings after market close, with multiple investment banks having recently slashed their price targets.

Jefferies on August 24 lowered its target from $550 to $500. Prior to that, Mizuho cut from $500 to $430, Citigroup reduced sharply from $591 to $457, and Morgan Stanley downgraded the stock to Equal Weight while slashing its target from $580 to $335, citing AI disruption risks to the TurboTax business and insufficient investor confidence in revenue acceleration. TD Cowen also downgraded to Hold with a $304 target. According to FactSet, the mean analyst price target stands at approximately $432.75.

Market consensus had expected Intuit to report quarterly revenue of $4.268 billion, representing 13.95% year-over-year growth, with adjusted EPS of $3.58, up 34.66%. Despite constructive earnings expectations, the wave of downgrades reflects growing concern over structural AI risks to the consumer tax segment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)