Intuit (INTU) PT Lowered to $500 at Truist Securities

Truist Securities analyst Arvind Ramnani lowered the price target on Intuit (NASDAQ: INTU) to $500.00 (from $739.00) while maintaining a Buy rating.

The analyst commented: "Solid 2Q26 Beat | AI Partnership Strategy Expands it GenAI Capabilities; Intuit reported a solid 2Q with revenues of $4.651B (+17.4% y/y) and adj. operating income of $1.549B (33.3% margin) coming in ahead of consensus expectations. Positively, the company is seeing robust traction for its AI offering. Management notes that AI usage has driven consumption of QuickBooks products driving QuickBooks Live customer growth of 50% in 2Q and 80% adoption of AI-powered data entry for TurboTax customers so far this tax season. We continue to view INTU as a leading consumer and SMB financial services platform with a defensible moat in the world of AI. We reiterate our Buy rating, but reduce our PT to $500 from $739."

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