BMO Lowers Intuit Price Target to $550

Analysts cite weaker Q3 guidance and higher marketing costs as factors behind the target reduction.

Feb. 27, 2026 at 2:21pm

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Intuit (NASDAQ:INTU), the financial software company known for products like QuickBooks and TurboTax, saw its price target lowered from $624 to $550 by BMO Capital Markets. The analysts cited Intuit's weaker-than-expected Q3 guidance and warnings of higher marketing spend for the upcoming tax season as reasons behind the target reduction, despite the company's strong Q2 results.

Why it matters

Intuit is a major player in the financial software and tax preparation space, so changes to its outlook and valuation can have broader implications for the industry and investor sentiment. The lowered price target reflects concerns about near-term headwinds, even as the company emphasizes long-term opportunities around AI and other strategic initiatives.

The details

In a research note, BMO Capital Markets analysts reduced their price target on Intuit from $624 to $550, while maintaining an "outperform" rating on the stock. The analysts noted that Intuit reported better-than-expected Q2 results, with EPS of $4.15 and revenue of $4.65 billion, both exceeding consensus estimates. However, the company's Q3 guidance fell short, with an EPS range of $12.45-$12.51 versus higher analyst expectations. Intuit also warned of increased marketing spend for the upcoming U.S. tax season, which the analysts believe will pressure margins in the near term.

  • Intuit reported Q2 2026 results on February 26, 2026.
  • BMO Capital Markets issued its updated price target on February 27, 2026.

The players

Intuit

A financial software company known for products like QuickBooks and TurboTax.

BMO Capital Markets

An investment bank and financial services provider that issued the updated price target on Intuit.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

Intuit's strong Q2 results were overshadowed by weaker-than-expected Q3 guidance and concerns about higher marketing costs, leading to a price target reduction from BMO Capital Markets. While the company remains optimistic about long-term opportunities, particularly around AI, near-term headwinds have created some uncertainty for investors.