(INTU), the financial software provider responsible for TurboTax, QuickBooks, and Credit Karma, is currently experiencing a challenging period. Disappointing tax-season results and slowing growth across major business segments have raised concerns regarding the company’s short-term outlook.
The stock has plunged approximately 62% from its 52-week high of $813.70 to its current price near $320 – a level tested in August 2020.
Intuit outlined FY 2026 revenue of $21.341B-$21.374B. The company also cut its workforce by 17%. Both actions were announced on May 20, 2026.
The stock slumped 11% on Wednesday after-hours trading, as the tax preparation, credit tracking, and marketing software firm delivered better-than-expected fiscal Q3 earnings and boosted its full-year guidance.
Additionally, its board approved a new $8B stock repurchase authorization during fiscal Q3, while the company expects fiscal Q4 adjusted EPS of $3.56-$3.62 and revenue growth of 11%-12%.
Intuit (INTU) anticipates full-year non-GAAP EPS of $23.80-E23.85, up from its previous guidance of $22.98-$23.18, while revenue is expected to be $21.341B-$21.374B, compared with its prior range of $20.997B-$21.186B and consensus estimate of $21.25B.
Now, at the current level, this stock is on the radar of the analyst and reflects a shift in sentiments around the company’s ability to maintain its historical growth momentum.
This software giant has long been a stable performer in the volatile technology sector. Now it faces scrutiny over falling gross margins and management’s reluctance to give the firm long-term guidance. These doubts affect price reversal chances, despite the company’s position in the market and product diversity.
Technical Levels to Watch
In a monthly chart, after testing a record peak at $814.71 in July 2025, the stock tested a low at $641 in August, and after struggling for another four months, it started a steep fall from January to May this year.
Undoubtedly, Intuit has tested the significant support at the 200 EMA ($323), a level tested in August 2020.
I anticipate that Intuit could see some more downside if it finds a breakdown below the immediate support at $307, could find next support at $252, from where a reversal could start after some consolidation, exactly the same as seen in May 2020.
In a bullish case, if this stock starts a reversal from the current level, immediate resistance will be seen at $360, where a breakout could push the stock to test the next resistance at the 100 EMA ($450).
Undoubtedly, a move above the immediate resistance at the 100 EMA could keep the uptrend intact, but bears will remain on top this year if the Federal Reserve goes for a rate hike in its June meeting this year.
Disclaimer: Readers are advised to take any position in this company at their own risk, as this analysis is solely based on observations.
