On June 25, Intuit fell 3.12% in regular trading, trading at $258.63/share, with turnover of $151 million. The decline came amid broad-based weakness across the application software sector, with major names posting significant losses.
Within the Application Software sector where Intuit belongs, individual stocks declined broadly. Among them, Palantir Technologies Inc. fell 5.59%, Strategy fell 7.54%, AppLovin Corporation fell 6.6%, IREN Ltd fell 5.28%, and Salesforce fell 0.67%. The sector-wide selling pressure follows a period of heightened volatility for software stocks caught between AI-driven optimism and fundamental growth concerns.
Intuit continues to face headwinds from recent analyst downgrades. Stifel downgraded the stock to Hold from Buy on June 18, slashing its price target to $275 from $375, while Goldman Sachs had earlier downgraded it to Sell with a $276 target, citing TurboTax competitive pressures and doubts over long-term guidance. Market consensus still averages an Overweight rating with a mean target of $474.64, placing these bearish calls in the minority.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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