New York, Jan 16, 2026, 12:06 EST — Regular session
- Intuit shares slipped roughly 1.4% by midday, extending the week’s downward trend
- Analysts dismiss fears of an “AI agent” upheaval, yet volatility remains elevated
- Intuit highlights its AI-plus-human strategy and schedules annual meeting for Jan. 22
Intuit Inc. shares slipped roughly 1.4% on Friday, lagging behind a more stable market. Investors remain cautious about the potential impact of new “AI agents” on the TurboTax maker’s core business.
This matters as Intuit approaches its peak consumer tax filing period, where even minor shifts in sentiment can swiftly alter expectations. Traders have also leaned on the stock to gauge if the latest generative AI tools pose a real threat or just background noise for software companies.
Intuit, known for TurboTax and QuickBooks, offers products centered on compliance and routine workflows. This focus leaves its stock vulnerable to narratives about software “moats” eroding, often before any tax returns have even been submitted.
A MarketWatch report pointed to Anthropic’s new AI tool, Claude Cowork, which takes action on users’ computers instead of just answering prompts, as a fresh trigger for the ongoing software sector selloff. William Blair analyst Arjun Bhatia weighed in, suggesting the fallout stems more from sentiment than underlying fundamentals. Intuit emerged as one of the stocks feeling the brunt of the noise. (MarketWatch)
Mizuho stuck with its Outperform rating on Intuit on Thursday, keeping its price target at $875 and dismissing disruption worries as “overblown.” The note highlighted that Intuit’s shares had fallen about 12% over five days, now hovering near a 52-week low. It also projected TurboTax revenue growth over 10% in fiscal 2026, well above Intuit’s own guidance of 7.5% to 8.0%. (Investing)
Jefferies echoed that view, describing the selloff in Intuit as “overdone.” Brent Thill and John Byun from the firm noted that tax filing demands precision, and regulators won’t tolerate “hallucinations” — AI-generated fabrications — as a defense for mistakes, even if an AI bot can navigate forms. (Investing)
Intuit is pushing a hybrid approach: software backed by people. This week, it opened a TurboTax flagship store in SoHo, New York. The move is part of a larger plan to roll out nearly 600 expert office locations and 20 TurboTax stores across the country. Mark Notarainni, head of the consumer group, described the launch as a physical showcase of the company’s “AI+HI” strategy. (Intuit Inc.)
The company announced its annual stockholder meeting will be held virtually on Jan. 22. CEO Sasan Goodarzi is set to review fiscal 2025 results and outline the strategy. (Intuit Inc.)
The downside risk remains. Should general-purpose AI tools begin handling more end-to-end tasks consistently, investors fear TurboTax might come under pressure—either on pricing or when attracting customers. This is particularly concerning if consumers start scrutinizing lower-cost filing alternatives more closely.
U.S. markets will be closed Monday for a holiday, leaving the next key dates in late January: the company’s annual meeting on Jan. 22 and the IRS kicking off the 2026 filing season on Jan. 26. (IRS)
