Dear Intuit Stock Fans, Mark Your Calendars for August 25

Intuit (INTU) is set to report its fiscal fourth-quarter and full-year 2026 results on Aug. 25, after the market closes. The company has faced a tough time on Wall Street this year as software names feel the increasing threat of artificial intelligence (AI) to their operations. 

In May, Intuit cut approximately 17% of its workforce amid the ongoing debate over whether generative AI tools could disrupt traditional software businesses like its own. However, CEO Sasan Goodarzi brushed aside the layoffs as having nothing to do with AI. Instead, the CEO said they were enacted to streamline operations and improve execution to create a “builder culture.” Goodarzi has also brushed off fears of AI posing a significant threat to Intuit's core business. 

Simultaneously, Intuit revealed Analytics AI this year, a conversational analytics agent in Mailchimp that “eliminates manual reporting and turns real-time customer data into clear, actionable next steps.” Mailchimp has also integrated Claude, Wix, and WooCommerce to unify e-commerce data and bring on AI-powered marketing abilities. 

With all that in mind, let's take a closer look at Intuit before it reports earnings later this month.

About Intuit Stock

Intuit is a financial technology company that provides software and services for personal finance, small-business accounting, and tax preparation. Headquartered in Mountain View, California, the company has a market capitalization of $92 billion. Intuit's flagship products — TurboTax, QuickBooks, Credit Karma, and Mailchimp — help individuals and businesses manage money, file taxes, track expenses, and market their services. 

INTU stock has taken a beating due to concerns over AI disrupting its core tax and accounting software business. Over the past 52 weeks, INTU stock has dropped 53%, while shares are down 50% year-to-date (YTD). Shares reached a 52-week low of $252.84 on June 22 but are now up 31% from that level.

The selloff has lowered Intuit’s valuation compared to peers, with its forward price-to-earnings (P/E) ratio of 15.8 times coming in lower than the industry average.

Intuit Surpassed Q3 Estimates

For the third quarter of fiscal 2026, revenue increased 10% year-over-year (YOY) to $8.56 billion. That figure came in higher than the $8.52 billion that Wall Street analysts had expected. Consumer revenue increased 8% YOY to $5.3 billion, based on growth in TurboTax and Credit Karma revenue. Likewise, global business solutions revenue grew 15% to $3.3 billion. Non-GAAP EPS climbed 10% to $12.80, surpassing the $12.48 per share expected by analysts. 

Intuit also raised its fiscal 2026 guidance. The company now expects 13% to 14% revenue growth to $21.34 billion to $21.37 billion, while non-GAAP EPS is projected to grow approximately 18% to between $23.80 and $23.85.

Wall Street analysts are optimistic about Intuit’s future earnings. For the upcoming fiscal 2026 results, EPS is projected to surge 18% annually to $18.18, followed by 16% growth to $21.11 in fiscal 2027. Analysts also expect EPS to grow 26% YOY to $2.14 in Q4 2026.

What Do Analysts Think About Intuit Stock?

Intuit has been hit with multiple downgrades recently as analysts choose to take a more neutral stance on the stock. Truist recently downgraded INTU stock from a “Buy” rating to a “Hold” and lowered the price target from $410 to $350. Analysts cited softening growth and the absence of any near-term catalyst as reasons for the downgrade. 

TD Cowen also recently downgraded INTU stock from “Buy” to “Hold” and lowered the price target from $504 to $304. Analyst Jared Levine noted that near-term catalysts look more negative than positive, expecting this to cap any meaningful share-price recovery until at least Q3 2027.

In July, analysts at Morgan Stanley downgraded Intuit from “Overweight” to “Equalweight” and cut the price target from $580 to $335. Analysts cited three weaknesses as reason for concern: uncertainty around the TurboTax business, risks associated with Q4 earnings, and Intuit's AI monetization strategy not yet boosting revenue growth. 

Still, Wall Street analysts overall have a positive stance on INTU stock with a consensus “Moderate Buy” rating. Of the 31 analysts with coverage, 18 have a “Strong Buy” rating, two have a “Moderate Buy” rating, nine analysts have a “Hold” rating, and two have a “Strong Sell." The average price target of $455.94 represents potential upside of 37% from current levels, while the Street-high price target of $900 indicates 171% potential upside from here.