Software sector under pressure after Intuit outlook disappoints
INTU•Barclays flags possible wider implications for the sector
Barclays analysts said accounting changes, including separate Mailchimp reporting and the inclusion of stock-based compensation in non-GAAP earnings, could have wider implications for the software sector.
INTU shares have sunk about 46% year to date versus a 12.5% rise in the Nasdaq (.IXIC), and are trading about 49% below their 52-week high in September 2025.
Software stocks fall after Intuit forecast misses expectations
U.S. software stocks fell premarket after Intuit forecast annual revenue below Wall Street estimates, citing a push for customer growth over near-term sales.
- Intuit slumped 11.8%, set to lose about $12 billion in market value.
- ServiceNow (NOW.N) was down 2.4%, Salesforce (CRM.N) fell 1.6%.
- Adobe (ADBE.O) slipped 2.5%, Palantir (PLTR.O) dipped 1%.
- Microsoft (MSFT.O) was down 0.8%.
