New York, Feb 23, 2026, 16:43 EST — After-hours trading.
- Intuit dropped 5.5% by the close, then barely budged in after-hours trading.
- Barclays trimmed its price target for Intuit but stuck with an “overweight” rating.
- Intuit’s fiscal Q2 numbers land Feb. 26, and traders are already positioning ahead of the release.
Intuit Inc (INTU.O) dropped 5.5% to close at $359.55 on Monday, with shares slipping further to $358.41 in after-hours moves. The stock, behind TurboTax and QuickBooks, hit a low of $349 during the day. Since early January, it’s fallen roughly 43%. 1
Wall Street tumbled, spooked by new doubts over tariffs and growing anxiety about the pace at which artificial intelligence might upend business models around the market. 2
Barclays has cut its price target on Intuit to $540, down sharply from $785, but kept its “overweight” call, MT Newswires reported. 3
Jefferies shook up its U.S. applications software outlook this day, layering in an “AI risk” framework and cutting ratings on several stocks to Hold. Intuit still makes the cut as a top pick. Analyst Brent Thill didn’t mince words on DocuSign—“double-digit growth reaccel is a ways away,” he wrote, highlighting “persistent risks and weaker sentiment” dogging parts of the sector. 4
It was a similar story across software names. The iShares Expanded Tech-Software Sector ETF (IGV), widely used to track U.S. software stocks, was down roughly 4.9% as of Monday afternoon, according to Nasdaq data. 5
Intuit shareholders aren’t getting much breathing room: second-quarter fiscal 2026 earnings drop on Feb. 26, and management plans to walk through the results on a call later that day. 6
The immediate concern: Can management calm expectations heading into peak tax season, while holding down costs? Firms throughout the sector are pouring money into safeguarding their products from rapidly advancing AI rivals.
The stock could easily move in either direction from here. Disappointing guidance or tighter margins might push the selloff further. On the flip side, if the results and outlook turn out stronger than expected, a wave of short covering could follow the sharp drop.
Traders aren’t just eyeing Intuit’s numbers. The latest tariff chatter and shifting bets on AI “winners and losers” keep shaking up risk appetite, especially after indices dropped Monday. 7
Next, Intuit’s Feb. 26 earnings and guidance are on deck, with attention turning to how shares move through week’s end as software sentiment takes another turn.
