Intuit (INTU) closed at $397.96 (-0.43%) as it continues a downtrend driven by AI spending concerns across the tech sector, though shares saw a minor after-hours recovery to $399.21. Major analysts including BMO Capital and TD Cowen have recently lowered their price targets for the stock to reflect broader market caution.
- BMO Capital and TD Cowen significantly reduced their price targets to $624 and $658 respectively, despite BMO maintaining an Outperform rating.
- Recent corporate activity includes new updates for Mailchimp and the official announcement of an upcoming Investor Day.
- The stock's performance aligns with general tech sector volatility and a flat S&P 500 following a sharp decline in Cisco shares.