Piper Sandler’s new Underweight rating and $250.00 price target push Intuit stock down 3.36% in morning trade.
Intuit (INTU) shares fell 3.36% to $280.04 after Piper Sandler initiated coverage with an Underweight rating and a $250.00 price target. The move follows a weaker-than-expected earnings report and downward guidance from the company.
Prior to the rating, Intuit had traded near recent highs, reflecting investor optimism after a strong fiscal year. Analysts had largely maintained a positive outlook, though some noted valuation concerns amid broader market volatility.
The stock’s decline reflects investor reaction to the bearish call, as Piper Sandler cited softening demand and execution risks in its assessment.