Intuit Inc.

🇺🇸NASDAQ Global Select
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Intuit Inc. stock analysis INTU overview
Bearish -50

As American software giant Intuit becomes S&P 500’s Worst Performer this year; CEO says: We bet the entire company on data AI and one of ...

📉 Intuit has become the worst-performing stock in the S&P 500 this year, with shares falling approximately 51% so far in 2026.

⚠️ Investors are concerned that a new wave of AI-powered tax services could challenge Intuit's flagship TurboTax business.

📉 Shares dropped nearly 9% on June 2 after Goldman Sachs downgraded the stock and warned of increasing competition for TurboTax.

💰 Goldman Sachs analyst Gabriela Borges stated Intuit could lose market share and see lower revenue growth over the next two years.

🤖 Competitors such as Prime Meridian, Perplexity Tax, and Chime Tax are using AI to simplify tax filing and financial advice.

📉 Goldman Sachs sharply cut its price target for Intuit stock from $519 to $276.

🤖 CEO Sasan Goodarzi defended the company's strategy, stating they bet the entire company on data AI and their network of accountants.

🏗️ Goodarzi highlighted a platform strategy that creates a network effect where accountants can grow their firms and provide expert services.

✂️ Intuit announced plans to cut around 3,000 jobs last month, representing about 17% of its global workforce.

📉 The layoffs were aimed at reducing organizational complexity to improve execution and product delivery.

🤖 CEO Goodarzi stated that simplifying the structure would help deliver better products and sharpen focus on integrating AI across services.

Bullish Signals
  • CEO Sasan Goodarzi reaffirmed the company's major strategic bet on data AI and a large network of AI-powered expertise to fuel business success.
  • Intuit has developed a platform control tower that helps businesses grow, run operations, and manage finances, inventory, and key decisions through integrated AI tools.
  • The launch of the Intuit Accountant Suite created a network effect where accountants can grow their firms, manage clients, and provide expert services simultaneously.
  • CEO Goodarzi stated that simplifying organizational structure will help deliver better products and sharpen focus on big bets like integrating AI across services.
Risk Factors
  • Intuit has become the worst-performing stock in the S&P 500 this year, with shares falling approximately 51% so far in 2026.
  • Goldman Sachs downgraded Intuit stock after warning that TurboTax could face increasing competition from new AI-powered tax preparation platforms like Prime Meridian, Perplexity Tax, and Chime Tax.
  • Analyst Gabriela Borges noted that Intuit could lose market share and see lower revenue growth over the next two years as consumers shift to these newer services.
  • Goldman Sachs cut its price target for Intuit from $519 to $276 due to concerns over competitive threats.
  • Intuit announced plans to cut around 3,000 jobs, representing about 17% of its global workforce, in an effort to reduce organizational complexity.
Full Analysis
Intuit has become the worst-performing stock in the S&P 500 this year, with shares falling approximately 51% so far in 2026 as investors express concern over potential competition from AI-driven tax services. CEO Sasan Goodarzi defended the company's strategy during its third-quarter 2026 earnings call, stating that Intuit has "bet the entire company on data AI" and highlighted a network of accountants providing expert services to fuel business success. However, Goldman Sachs downgraded Intuit stock after warning that TurboTax could face increasing competition from new AI-powered tax preparation platforms like Prime Meridian, Perplexity Tax, and Chime Tax. Analyst Gabriela Borges noted that Intuit could lose market share and see lower revenue growth over the next two years as consumers shift to these newer services, prompting Goldman Sachs to cut its price target from $519 to $276. In response to market pressures and strategic shifts, Intuit announced plans to cut around 3,000 jobs, representing about 17% of its global workforce, with CEO Goodarzi stating that reducing organizational complexity would help improve execution and product delivery. The layoffs are part of a broader effort to sharpen focus on "big bets," including integrating AI across services and enhancing the Intuit Accountant Suite platform. Despite Wall Street concerns, Intuit maintains that its combination of AI tools and professional expertise will continue to help businesses manage finances and make key decisions, positioning itself against emerging competitors in the evolving tax technology landscape.