Movement Alert｜Intuit Falls 4.96% in Regular Trading, Pulling Back After Three-Day Rally Amid Multiple Analyst Downgrades

Market Focus07-30

On July 30, Intuit fell 4.96% in regular trading, trading at $311.97 per share with turnover of $85.12 million. The stock had previously rallied for three consecutive sessions, gaining over 10% despite a wave of investment bank downgrades, and is now giving back a significant portion of those gains.

On the news front, the pullback follows sustained downgrade pressure from multiple brokerages. TD Cowen on July 29 cut its rating to Hold with a target price of $304. Morgan Stanley had previously downgraded the stock from Overweight to Equal Weight on July 21, slashing its target from $580 to $335, citing AI disruption risk to the TurboTax business and concerns over fiscal Q4 guidance. Stifel also downgraded to Hold in June with a $275 target. Morgan Stanley noted that investor concerns about AI threats to TurboTax are unlikely to be resolved until fiscal Q3 results in May next year.

Within the Application Software sector, the broader weakness amplified selling pressure, with Adobe down 5.02% and Salesforce down 4.4% on the same day.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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