Is Intuit Stock Oversold Now, Finally Making It a Buy?
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Is Intuit Stock Oversold Now, Finally Making It a Buy?
May 15, 2026 — 01:27 pm EDT
Written by
Daniel Sparks for
The Motley Fool->
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Key Points
- Shares of Intuit are down about 40% year to date.
- The company's most recent quarter delivered 17% revenue growth.
- Management's near-term outlook implies a meaningful step-down in growth.
- 10 stocks we like better than Intuit ›
It has been a brutal stretch for Intuit (NASDAQ: INTU) shareholders. The financial technology platform behind TurboTax, QuickBooks, Credit Karma, and Mailchimp has seen its stock price plummet in 2026, even as the underlying business continues to grow at a double-digit pace. As of this writing, the stock is down more than 40% year to date, and even further from its 52-week high of about $814.
Contrasting the stock's drawdown, Intuit's most recent quarterly results showed strong double-digit growth across both the top and bottom line -- and management even reiterated its full-year guidance.
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So, is the selling overdone heading into next week's fiscal third-quarter update? Or are investors right to be cautious here?
Image source: Getty Images.
Broad-based growth
When Intuit last reported earnings, in late February, the numbers were strong.
In its fiscal second quarter of 2026 (the period ended Jan. 31, 2026), revenue rose 17% year over year to $4.7 billion. Even better, the company's generally accepted accounting principles (GAAP) operating income jumped 44% to $855 million, and non-GAAP (adjusted) earnings per share climbed 25% to $4.15.
Further, the growth was broad-based. Revenue in Intuit's global business solutions segment, which is anchored by QuickBooks, rose 18% (or 21% when excluding Mailchimp). And QuickBooks Online Accounting revenue alone jumped 24% during the quarter. The consumer segment, which is heavily seasonal as TurboTax dominates the tax season, saw revenue rise 15%, helped by Credit Karma revenue growth of 23%.
Even more, a meaningful piece of Intuit's growth story right now centers on artificial intelligence (AI). CEO Sasan Goodarzi has been positioning the company around what he calls "AI and HI" -- shorthand for combining artificial intelligence with human experts.
"AI and HI is foundational to our platform and fueling our growth," Goodarzi said in Intuit's fiscal second-quarter earnings call. "It is not a side project for us," he added.
Backing this up with numbers, more than 3 million customers leveraged Intuit's virtual AI agents in fiscal Q2, and QuickBooks Live -- a service that pairs subscribers with human bookkeeping experts -- grew 50% year over year.
Where the bears have a point
But the picture darkens when you look at what's coming next.
The fiscal third quarter, which Intuit reports on May 20, includes the most important stretch of tax season. Yet management's guidance for fiscal Q3 calls for total revenue growth of just 10%. That is a notable step-down from the 17% pace Intuit just delivered -- and slower than the 18% growth the company posted in fiscal Q1 (the period ended Oct. 31, 2025).
The slowdown also seems more pronounced when you zoom in on the consumer side. Credit Karma grew 23% in fiscal Q2, but that was already a deceleration from 27% in fiscal Q1. And for the full year, management expects Credit Karma growth of just 10% to 13%. Mailchimp, meanwhile, remains a drag on the business; the company doesn't expect that piece to return to double-digit growth until sometime beyond fiscal 2026.
Investors are also growing nervous about AI potentially disrupting traditional software and online services like Intuit's.
But valuation may finally be starting to balance the risks. At about $394 per share, Intuit trades at roughly 17 times the midpoint of management's fiscal 2026 adjusted earnings guidance -- not bad for a high-quality company growing as rapidly as Intuit is.
With all of this said, the decline does appear somewhat justified in hindsight, given how richly priced shares were at the highs. After this drop, however, the stock is just starting to look interesting. For long-term investors who are comfortable with near-term uncertainty -- and willing to see what management says about fiscal Q3 next week -- this could be a decent buying opportunity into a great business.
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