Intuit Shares Down Over 57% YTD on TurboTax Growth Cut and AI Concerns

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โดย Insider Monkey·Read original
Summary · why it matters

Intuit shares have fallen more than 57% year-to-date, driven by a downward revision in TurboTax growth and concerns over AI disruption. On June 18, Stifel Financial downgraded Intuit from Buy to Hold and lowered its price target from $375 to $275, citing a strategic shift from aggressive price increases to a value-based pricing model in response to market-share losses and customer price sensitivity. Stifel expects Intuit to cut its long-term TurboTax growth target to 4%–6% from 10% and trim its Global Business Solutions segment growth target to 10%–15% from 20%, with formal announcements anticipated at the company's analyst day in September. Despite the decline, the Street still sees more than 67% upside over the next 12 months.

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