NEW YORK, March 5, 2026, 11:54 EST
- Argus Research bumped Intuit up to “strong-buy,” its report showed Thursday.
- Six sessions up in a row for the stock, yet it’s still trading well under its 52-week high.
- Investors are sizing up heavier tax-season spending while also eyeing demand for TurboTax and QuickBooks.
Argus Research slapped a “strong-buy” on Intuit Inc Thursday, signaling optimism for a stock that’s been clawing back after a sharp drop in recent months. 1
The call falls right in the thick of U.S. tax season—Intuit’s usual high-water mark for earnings, but expenses often surge too. This time, Intuit has flagged that its third-quarter profit will miss Wall Street’s forecasts as the company ramps up spending on marketing and customer support, according to Reuters. The IRS deadline looms on April 15. 2
This tension is front and center. More spending pays off if it brings in additional filers and small businesses—then, growth holds. Otherwise, the quarter could unwind quickly.
Argus slashed its price target for Intuit to $580, down from $780, but stuck with its buy rating, MT Newswires said Wednesday. 3
Intuit shares climbed 1.57% Wednesday, finishing at $440.14—marking a sixth consecutive winning day, according to MarketWatch data. Volume came in above average. Even so, the stock remains well off its 52-week high of $813.70 from July 30. Over the session, it outperformed Adobe and Paychex but trailed Oracle. 4
Intuit turned in fiscal Q2 revenue of $4.651 billion, climbing 17%, with adjusted EPS landing at $4.15. CEO Sasan Goodarzi, in the release, called it “a new category at the intersection of AI and human intelligence.” CFO Sandeep Aujla, echoing prior outlooks, said the company is “reiterating” its full-year guidance. 5
Adjusted earnings per share—known as adjusted EPS—removes select items that companies argue might obscure the core business picture. Investors lean on it for what they see as a more straightforward take on operations, though critics warn the metric can paint results in a more favorable light.
Intuit’s immediate challenge isn’t so much pumping up the top-line number as figuring out the price tag for chasing that growth. The company is betting heavily on “assisted” tax services and working to lock in QuickBooks users, even as competitors step up their own game.
Still, the rally has room to falter. If filing season drags, marketing doesn’t bring in enough conversions, or support expenses climb, Intuit may miss the profit target it set for the quarter ending April 30.
