Intuit shares fall after weak annual revenue forecast
INTU•Quarterly revenue guidance and analyst view
The company forecast first-quarter revenue between $4.29 billion and $4.31 billion, below an estimate of $4.36 billion.
Thirty-six analysts rate the stock "buy" on average, and the median price target is $408, according to data compiled by LSEG.
Up to the previous day's close, the stock had fallen 46% year to date.
Shares fall after revenue outlook misses estimates
Shares of TurboTax-parent Intuit fell nearly 10% to $321.75 in premarket trading after the company forecast annual revenue below Wall Street expectations on Tuesday, as its push for customer growth and market-share gains would weigh on near-term sales.
"We expect INTU shares to come under pressure. Q4, in itself, was solid but FY27 guidance will be the larger discussion point," said Barclays, which maintains an "overweight" stance.
