New York, Feb 4, 2026, 07:29 (EST) — Premarket
- Intuit shares edged down about 0.7% in premarket, after plummeting 10.9% on Tuesday.
- Software and data stocks plunged sharply amid fresh worries over AI-driven disruption.
- Traders are zeroing in on Intuit’s earnings call scheduled for Feb. 26, looking for clues and guidance ahead of tax season.
Intuit Inc shares dipped 0.7% to $431.03 in premarket trading Wednesday, after tumbling 10.9% at Tuesday’s close. The premarket session takes place in the brief period before the Nasdaq opens at 9:30 a.m. ET.
Intuit’s recent slide has turned into a sharp indicator of risk appetite in the software sector, with investors offloading cloud stocks over several sessions. The software and services index has fallen for five days in a row, shedding more than 12%, Reuters reported. Market watchers are also eyeing ADP’s private payrolls report due at 8:15 a.m. ET, alongside Alphabet’s earnings release after the bell.
The sell-off picked up steam Tuesday after AI developer Anthropic rolled out plug-ins for its Claude Cowork agent, automating tasks in legal, sales, marketing, and data analysis. Investors, spooked by AI’s threat to pricing power in established software firms, pulled back sharply. “Sometimes the market just shoots first and asks questions later,” said Mike Archibald, a portfolio manager at AGF Investments in Toronto, as the S&P 500 slipped 0.84% and the Nasdaq dropped 1.43%. Reuters
Intuit is set to unveil its fiscal second-quarter results on Feb. 26, with a conference call scheduled for 4:30 p.m. EST, according to the company’s investor calendar. This event is a crucial moment for Intuit shares, as investors look for updates on the TurboTax filing season and small-business demand tied to QuickBooks.
Oppenheimer held firm on its Outperform rating for Intuit but slashed the price target to $696 from $868 on Tuesday, a note summary on GuruFocus shows. Keep in mind, price targets are projections — not guarantees.
Intuit is expanding payment options in QuickBooks with a new multi-year pact announced Monday. Affirm will become the exclusive pay-over-time choice within QuickBooks Payments. The feature is set to launch “in the coming months” for eligible U.S. businesses. “We are giving businesses a powerful new way to increase conversion and improve cash flow,” said Intuit executive David Hahn. Intuit Inc.
The selloff isn’t just a one-off; it’s shaking the entire sector. Toby Ogg at JP Morgan said software stocks are being “sentenced before trial.” Over at Quilter Cheviot, Ben Barringer pointed out that investors are “choosing to shun the software market altogether,” as skepticism about AI agents’ capabilities grows. Intuit dipped 0.6% in U.S. premarket, Reuters reported in its wider sector roundup. Reuters
Nvidia CEO Jensen Huang challenged the idea that AI will upend software tools during a Cisco event in San Francisco, calling that view “illogical.” He argued that recent AI breakthroughs are enhancements that build on current tools rather than replace them wholesale. Reuters
Traders are set to track whether Intuit shares maintain their footing post-open as the software sector digests fresh AI developments. Attention then turns to Feb. 26, when Intuit releases its earnings and outlook during the peak of tax season.
