New York, February 9, 2026, 14:18 EST — Regular session
- Intuit slipped roughly 1.3% in afternoon action, moving against the rebound seen elsewhere in software stocks.
- TD Cowen lowered its price target on Intuit to $658. Jefferies, however, stuck with its $850 target, arguing AI concerns are “too harsh.”
- Intuit’s numbers drop Feb. 26, pulling attention, while U.S. jobs and inflation data come up this week.
Shares of Intuit Inc lost roughly 1.3% on Monday afternoon, dropping to $438.01 and erasing some of last week’s bounce. Investors sifted through new analyst price targets, but the broader software sector remained jittery. Earlier, the stock traded between $431.53 and $447.00.
This drop matters: Intuit has landed squarely in the middle of a broad rout hitting software stocks, as investors fret that rapidly evolving AI could threaten the established subscription revenue model. Over the past three months, the software and services sector trailed the S&P 500 by almost 24 percentage points. In the options market, traders remain braced for sharp moves—Reuters says 30-day implied volatility for the IGV software ETF is sitting around 41%. 1
Still, things looked brighter across the broader market on Monday. Software names pulled back some ground after last week’s sharp selloff. The S&P 500 Software Services index showed an early gain of about 2.4%. Investors, though, kept debating the sheer size of planned AI investments — Amazon, Alphabet, Meta, and Microsoft are eyeing a combined $650 billion, according to Anna Rathbun, founder and CEO of Grenadilla Advisory. “It’s an eye-popping number,” Rathbun said. 2
TD Cowen’s Jared Levine cut his target on Intuit to $658 from $802, sticking with his Buy call. Levine described the setup as a “clean beat against a low bar” in the wake of weaker results, though he flagged that some investors might hold back on software plays until there’s more clarity around AI and longer-term valuation. 3
Analyst Brent Thill at Jefferies isn’t buying into the AI jitters, saying in a Sunday note that “AI fears are too harsh.” He kept his $850 price target on Intuit. Thill argues that established players leaning into AI should come out ahead over time, and that “value ultimately accru[es] to software.” He flagged stronger revenue growth tied to AI tools, plus more defined partnerships with model providers, as possible drivers for the stock. 4
Intuit is on deck with its second-quarter fiscal 2026 earnings, coming up Feb. 26. A conference call with executives, set for 1:30 p.m. Pacific time, will follow the release, the company confirmed. 5
The stock’s volatility was on full display Friday. Intuit ended the day up 2.04%, closing at $443.77, with volume running higher than average, MarketWatch data showed. Come Monday, shares slipped back into the red. 6
TurboTax, QuickBooks, Credit Karma, and Mailchimp sit at the center of Intuit’s portfolio. Tax season always puts the company under the microscope; this year, investors are also weighing how AI might push automation—and what that could do to pricing power.
The mood in markets can turn on a dime. Barclays called the latest AI software pullback “not a major warning sign” for the wider market. Still, the bank pointed out just how quickly tech sentiment has swung—leaving little room for error when it comes to earnings or guidance. 7
Intuit’s next real test lands Feb. 26. On the call, traders are zeroed in on TurboTax filing numbers, QuickBooks appetite from small businesses, and any tweaks to full-year guidance. They’ll also want management to put hard numbers and margin impact on the table when it comes to the AI transition.
