Intuit Inc. (NASDAQ:INTU) posted upbeat financial results for the third quarter of fiscal 2026 on Wednesday.

Intuit reported third-quarter revenue of $8.56 billion, beating analyst estimates of $8.53 billion. The QuickBooks, Credit Karma and TurboTax parent company posted third-quarter adjusted earnings of $12.80 per share, beating analyst estimates of $12.28 per share, according to Benzinga Pro.

"The powerful combination of Intuit's proprietary data, domain-specific AI platform capabilities, and AI-powered human expertise is setting the standard for trusted financial intelligence. As we look ahead, we are further scaling our growth engines and architecting an organization that operates with greater velocity to deliver durable long-term growth," said Sasan Goodarzi, CEO of Intuit.

Intuit guided for fiscal fourth-quarter revenue growth of approximately 11% to 12%. The company anticipates fourth-quarter adjusted earnings of $3.56 to $3.62 per share versus estimates of $3.20 per share. Intuit also announced plans to reduce its workforce by 17% to simplify its organizational structure.

Intuit shares fell 20.5% to trade at $305.77 on Thursday.

These analysts made changes to their price targets on Intuit following earnings announcement.

  • Keybanc analyst Alex Markgraff maintained the stock with an Overweight rating and cut the price target from $520 to $450.
  • Oppenheimer analyst Scott Schneeberger maintained Intuit with an Outperform rating and lowered the price target from $558 to $406.
  • Stifel analyst Brad Reback maintained the stock with a Buy and lowered the price target from $500 to $375.
  • Barclays analyst Raimo Lenschow maintained Intuit with an Overweight rating and lowered the price target from $540 to $443.
  • RBC Capital analyst Rishi Jaluria maintained the stock with an Outperform rating and cut the price target from $600 to $500.

Considering buying INTU stock? Here’s what analysts think:

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