Intuit (NASDAQ:INTU) is a financial software company that provides services like TurboTax, QuickBooks, and Credit Karma. On May 22, 2026, Argus Research adjusts its price target for the company to $480.00. A price target is an analyst's estimate of a stock's future value, which helps investors gauge potential performance.
At the time of the update, Intuit trades at $308.06, which indicates a potential upside of 55.81% to meet the analyst's new target. This follows a recent 20% plunge in the stock's price, as highlighted by The Motley Fool. The drop occurs even though the company reports strong quarterly results and raises its financial outlook for the year.
The company's third-quarter revenues show a 10% year-over-year increase to $8.60 billion. Non-GAAP earnings per share, which excludes certain one-time costs to better show core profitability, also grows by 10% to $12.80. This performance is driven by over 30% growth in its assisted tax services and mid-market business solutions.
Despite strong earnings, the stock's decline is linked to several announcements. As highlighted by Benzinga, the company is reducing its workforce by 17% and has a weaker-than-expected outlook for its TurboTax product. Market concerns also exist about emerging artificial intelligence (AI) tools potentially threatening Intuit's business model.
Looking forward, Intuit raises its fiscal year 2026 revenue guidance to a range of $21.34 billion to $21.37 billion. The company also increases its non-GAAP earnings per share forecast to between $23.80 and $23.85. Intuit also plans to expand its share repurchase program and raise its dividend.
