NEW YORK, Jan 14, 2026, 17:52 (EST) — After-hours trading
- On Wednesday, Intuit shares dropped roughly 6.4%, significantly underperforming the broader market decline
- A recent SEC filing revealed a $2.2 billion revolving credit facility, with potential for expansion
- Goldman Sachs kicked off coverage with a Neutral rating; investors will be eyeing tax-season momentum next
Intuit shares dropped sharply on Wednesday, falling roughly 6.4% to $566.60 in after-hours trading following an intraday low of $556.83. Roughly 4.8 million shares were traded.
The timing is tricky for bulls. The IRS announced the 2026 filing season starts Jan. 26, shifting focus back to Intuit’s critical period for TurboTax and its related services. (IRS)
A filing revealed Intuit has entered a new credit agreement, securing a $2.2 billion unsecured revolving credit facility that extends through Jan. 9, 2031, replacing its previous 2024 facility. The company also mentioned the possibility of tapping an incremental option to boost total commitments up to $4 billion, depending on conditions. This could partly fund “early refund processing” or other products. As of the filing, Intuit hadn’t drawn on the facility. (Intuit Inc.)
Intuit lagged sharply as the market slipped. The SPDR S&P 500 ETF dipped roughly 0.5%, while the Invesco QQQ Trust, tracking the Nasdaq, dropped around 1.1%.
H&R Block slipped 2.3% during the session, a milder drop compared to Intuit’s, amid broader market losses. (MarketWatch)
Goldman Sachs analyst Gabriela Borges has started covering Intuit, assigning a Neutral rating and setting a $720 price target. The firm views AI adoption as a “positive tailwind” for software demand, but Borges is holding off on a more bullish stance until she sees evidence of assisted tax share gains. (TipRanks)
Intuit has set its sights for this quarter. The company’s fiscal second quarter wraps up Jan. 31, and it’s forecasting revenue growth around 14% to 15%. Non-GAAP diluted earnings per share are expected between $3.63 and $3.68. (Intuit Inc.)
A revolving credit facility acts like a corporate credit line—companies can borrow, repay, then borrow again. Intuit’s filing noted that borrowing costs would track benchmark rates like SOFR, a major overnight funding reference in U.S. markets. That means the interest expenses can change swiftly as policy and money-market rates fluctuate.
The risk is clear. Should early-season tax volumes fall short or assisted-filing gains fail to materialize, investors might continue viewing the stock as a growth play facing near-term hurdles. Plus, rising short-term rates would increase borrowing costs if Intuit draws on its credit facility.
Coming next: the IRS kicks off filing season on Jan. 26, followed by Intuit’s quarter-end on Jan. 31. Investors will zero in on Intuit’s fiscal Q2 results, watching for updates on tax-season demand, the uptake of assisted filing, and whether the company tapped its new credit line. (Nasdaq)
