Intuit Stock Slides After Goldman Downgrades To Sell

Benzinga06-03 02:04

Intuit Inc (NASDAQ:INTU) shares are under pressure on Tuesday as the stock moves lower following a downgrade from Goldman Sachs. Analyst Kash Rangan cut the rating from Neutral to Sell and reduced the...

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TurboTax brings in an average of $162 per return. The analysts argue that this cost gap gives new players room to undercut pricing without relying on heavy venture funding. They expect the pressure to show up in lower market share or lower average revenue per user, with some help from growth in the Assisted category.\nThe downgrade also highlighted concerns around Mailchimp, which accounts for about 7% of Intuit's revenue. The business had been expected to return to double‑digit growth in fiscal 2026, but the most recent quarter showed a slight year‑over‑year decline.\nGoldman did note a few factors that could help soften the blow. These include Intuit's partnership with Anthropic, potential share gains in the higher‑ARPU Assisted tax category and a 17% workforce reduction announced in May. The analysts also pointed out that Intuit has a long history of adapting to major technology shifts.\nIntuit remains in a clear longer-term downtrend, down 57.66% over the past 12 months, and it's still trading well below its 11.8% below the 20-day SMA, 16.9% below the 50-day SMA, 25% below the 100-day SMA and 41% below the 200-day SMA. That structure keeps rallies vulnerable to selling until price can reclaim at least the short-term averages.\nThe moving-average stack is also bearish, with the 20-day SMA below the 50-day SMA and a \"death cross\" that formed in October 2025. The stock's recent swing low in May and the 52-week low zone from May are now the key area traders watch for a hold vs. a breakdown.\nMomentum is best framed through RSI, which sits at 46.38, which is neutral, but not showing the kind of washed-out reading that often marks durable bottoms. RSI is essentially a \"stretch\" gauge, and a mid-40s reading suggests the stock has downside pressure but isn't yet at an extreme where mean-reversion buyers typically get aggressive.\nINTU Price Action: Intuit shares were down 8.54% at $323.55 at the time of publication on Tuesday. The stock is near its 52-week low of $300.50, according to Benzinga Pro.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"rating","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2640892571","isCrawlerRequest":true}