Truist Securities reduced its price target on Intuit Inc. to $300 from $350 on Wednesday, maintaining a Hold rating as the company’s fiscal 2027 revenue guidance fell short of expectations.
The adjustment follows a prior downgrade to Hold earlier in August. Intuit projected fiscal 2027 revenue growth of 9.1% year-over-year to $23.396 billion, below the 11.1% consensus estimate of $23.736 billion. The company cited challenges in TurboTax, desktop products, and Credit Karma as key contributors to the weaker outlook despite a solid fourth-quarter performance.
Intuit’s stock has declined 45% year-to-date, trading at $346.70, well below its 52-week high of $705.08. The company’s gross profit margins remain robust at 81%, while its P/E ratio stands at 21.3.
Other analysts offered mixed reactions. Piper Sandler raised its price target to $290 but kept an Underweight rating, while Stifel increased its target to $300. BMO Capital reiterated an Outperform rating with a $412 price target, and Wells Fargo lowered its target to $300. Morgan Stanley reduced its target to $315, noting that while revenue guidance missed expectations, earnings per share guidance was maintained due to cost reductions.
Truist described Intuit as an “execution story” impacted by recent missteps and intensifying competition from AI-native rivals. Analysts at Stifel and Wells Fargo highlighted concerns over TurboTax’s growth outlook, citing customer losses to lower-cost alternatives as Intuit refines its strategy to retain higher-quality users.
