New York, Jan 22, 2026, 12:49 EST — Regular session
- Intuit shares climbed roughly 3.3% by midday, clawing back some losses from a recent downturn.
- Morgan Stanley highlighted a “credible path to 20% growth” as Intuit expands deeper into mid-market accounting and assisted tax services.
- Traders are zeroing in on the company’s comments about tax-season demand ahead of its next earnings report.
Shares of Intuit Inc climbed roughly 3.3% to $542.10 on Thursday, recovering from a low of $524.92 earlier in the day.
The rebound comes just as Intuit enters its peak season, with tax filers filing and small businesses weighing their options on accounting and payroll software. The stock has seen a sharp reset in just a few sessions, leaving little wiggle room for the upcoming earnings to be anything less than precise.
The key now isn’t the one-day swing but if upcoming reports point to a typical tax season or a slowdown. With the recent drop, even slight shifts in demand, pricing, or refund-related products could jolt the stock sharply.
The broader market showed strength as the S&P 500 ETF climbed roughly 0.8%, while the Nasdaq-100 tracker gained close to 0.9% by midday.
Intuit surged following a stretch where the stock was on track for its longest losing streak since January 2022 and poised for its lowest close since November 2023, according to Dow Jones Market Data. (Morningstar)
Morgan Stanley’s Keith Weiss said Wednesday that Intuit is just starting two product cycles and has a “credible path to 20% growth,” fueled by expansion into mid-market accounting and assisted tax. He also highlighted a lower forward price-to-earnings multiple, a typical valuation metric, and outlined a “bull case” projecting much higher revenue and profit down the line. (Investing)
The recent optimism is notable following a spate of caution earlier this month. Wells Fargo downgraded Intuit from Overweight to Equal Weight, signaling expectations that the stock will perform more in line with its peers. The bank also slashed its price target from $840 to $700, according to The Fly. (TipRanks)
Intuit’s latest quarterly update projected revenue growth around 14% to 15% for its fiscal second quarter ending Jan. 31. The company also forecast non-GAAP earnings per share between $3.63 and $3.68, a measure that excludes certain items. (Intuit Inc.)
Intuit is pushing harder this tax season. “People expect brands to rise and meet the occasion,” said Nick Soukas, senior VP of marketing at Intuit’s Consumer Group, during a December launch for TurboTax and Credit Karma. (Intuit Inc.)
The stock followed gains seen in software names, with Adobe rising roughly 1.5% and Oracle climbing around 2.5%. Tax-prep rival H&R Block dipped a bit.
Still, the setup isn’t without risk: Intuit’s consumer tax segment is highly seasonal, with most sales and revenue from tax products hitting between November and April, according to the company. If early filing volumes, paid user mix, or growth in assisted-tax services fall short, the recent gains could quickly reverse. (Intuit Inc.)
Intuit’s fiscal second-quarter results, covering the period ending Jan. 31, are the next key event on the horizon. Nasdaq’s earnings calendar points to a likely report date of Feb. 24, but the company has yet to officially confirm that timing. (Nasdaq)
