- Price
- $317.84
- Fair value
- $430.00
- Discount
- 26.1%
- Uncertainty
- High
- LSEG rating
- 2.36
- Moat
- Narrow
- Next earnings
- 2026-12-01
- Next earnings is estimate
- No
- Company name
- Intuit
- Sector
- Financial software
- About
- Intuit makes financial software for consumers and small businesses. Its main products are TurboTax for tax filing, QuickBooks for small business accounting, Credit Karma for credit monitoring and personal finance, and Mailchimp for marketing. Intuit earns money mainly from software subscriptions and tax filing fees. Credit Karma also earns money by matching users with loans and credit cards from partner banks.
- Thesis
- In 2026, Intuit became one of the worst-performing stocks in the S&P 500. Investors fear that AI chatbots can soon do simple tax returns and basic budgeting for free, which would hurt TurboTax's price-sensitive filers and Credit Karma's loan-matching business. Intuit has responded by signing multi-year partnerships with both OpenAI and Anthropic, building their AI models into its own products instead of only competing against them. Despite the AI fear, Intuit's core segments kept growing at double-digit rates through fiscal 2026, including Credit Karma and its small business tools. If Intuit's own AI agents keep customers filing and banking inside its apps, rather than switching to outside AI tools, the disruption fear may prove overstated.
- Risks
- AI-native tools may let simple tax filers complete a return without paying for TurboTax. Management already lowered its own TurboTax growth outlook, because of price-sensitive customers testing free alternatives.
OpenAI added a personal finance feature inside ChatGPT that matches users with financial products. This sits close to Credit Karma's core business of matching users with loans and credit cards, Intuit's fastest-growing segment.
Intuit is cutting about 3,000 jobs, 17% of its workforce, while trying to launch new AI agent products at the same time. A restructuring this large carries execution risk that could slow product delivery or hurt customer service during the transition.
- Recent events
- 2026-05-20: Intuit reported Q3 fiscal 2026 revenue of $8.56 billion, up 10.5%. The company also announced it would cut about 3,000 jobs, 17% of its workforce, to refocus spending on AI.
2026-02-24: Intuit announced a multi-year partnership with Anthropic, to build Claude-based AI agents into TurboTax, QuickBooks, Credit Karma, and Mailchimp.