Intuit’s shares dropped 11.8% to $315.30 in pre-market trading on Wednesday, extending losses from Tuesday’s close. The decline came despite the company reporting adjusted earnings per share of $4.03 for the fourth quarter, exceeding the $3.58 consensus estimate, and revenue of $4.4 billion, above the $4.27 billion forecast.
Customer growth slowed to 3% year-over-year, with Mailchimp’s performance cited as a key area of weakness. The company’s guidance for fiscal 2027 revenue growth was reduced to 9-10%, down from the 14% previously projected for fiscal 2026. TurboTax revenue growth was also trimmed to 2-3%.
Intuit’s full-year non-GAAP EPS guidance for fiscal 2027 was set at $22.88-$23.12, well below the $27.30 consensus. First-quarter FY2027 EPS guidance of $2.44-$2.48 also fell short of the $4.02 estimate. The S&P 500 was flat, the Nasdaq slipped 0.1%, and the Dow rose 0.2%, indicating the selloff was company-specific rather than driven by broader market conditions.
Analysts responded with mixed views. Mizuho maintained an Outperform rating and a $430 price target, describing the guidance reset as a potential step toward rebuilding credibility ahead of an upcoming investor event. Jefferies, however, lowered its price target to $500 from $550 while keeping a Buy rating. Intuit is scheduled to hold an Investor Day on September 17.
