The share price of Intuit Inc. (NASDAQ:INTU) has fallen more than 57% on a year-to-date basis.
The primary factors are downward revision in TurboTax growth and concerns over AI disruption
However, the Street still expects more than 67% upside over the next 12 months, making it one of the Stocks Expected to Bounce Back According to Analysts. Recently, on June 18, Stifel Financial downgraded Intuit Inc. (NASDAQ:INTU) from Buy to Hold and lowered the price target from $375 to $275. The firm remains concerned about the company’s future growth trajectory.
It noted that Intuit is moving from aggressive price increases toward a value-based pricing model. This comes as a response to market-share losses and growing customer price sensitivity. Stifel believes this strategic pivot will force the company to reset its long-term growth expectations downward.