INTU Stock Plunges In Premarket: Retail Traders Signal 'Buy The Dip' After Q3 Beat, Sustained Share Weakness

• INTU reported quarterly results that beat expectations and announced it will cut 17% of its global workforce.
• Broadly, investors appear to be concerned about the slowing pace of revenue growth.
• Stocktwits sentiment for INTU shifted to ‘extremely bullish’ from ‘bullish.’

Intuit shares plunged over 13% in early premarket trading on Thursday after the company’s quarterly report and announcement of significant job cuts. While results topped expectations and the company raised its annual forecasts, investors appeared concerned about slowing revenue growth.

Retail View On INTU

Still, retail traders turned upbeat, with many advising to buy the dip in the stock, which has already fallen sharply in recent months. On Stocktwits, the retail sentiment for INTU shifted to ‘extremely bullish’ early Thursday, up from ‘bullish’ the previous day.

“$INTU they beat and they are cutting costs with layoffs and AI. Great news,” a trader said. “Honestly i dont even know what these SAAS Companies need to do to shake the narrative, they put up great earnings and its execution before trial. My god,” another said.

Intuit is at the forefront of a selloff in software stocks amid fears that AI tools will shrink the demand for niche software. Earlier this year, the stock plunged after Anthropic announced new functionality on its Claude platform capable of handling some accounting and tax-filing tasks. Days later, the company announced a multi-year partnership with Anthropic, embedding its software into an AI agent offering from Anthropic.

Still, the worries have persisted, and the INTU stock is down 42% year to date. 

“Very good company with a beaten stock. Oversold, I am a buyer while this is on sale,” another trader wrote on Stocktwits. To be sure, the relative strength index reading for INTU was 45.35, according to Koyfin. RSI above 70 is denoted that a stock is overbought, below 30 oversold, and between 30-70 neutral.

Intuit’s main software products include TurboTax for tax filing, QuickBooks for accounting, Credit Karma for personal finance, and Mailchimp for marketing automation.

Intuit’s Q3 Recap

Intuit’s revenue rose 10% of $8.56 billion, beating analysts’ estimate of $8.54 billion. However, the pace of revenue growth has slowed. (see chart)

The company reported adjusted earnings of $12.80 a share, also beating estimates of $12.57. Subsequently, it raised its 2026 forecasts 

Intuit now expects fiscal 2026 earnings between $23.80 a share and $23.85 a share on revenue of $21.3 billion to $21.4 billion. The company previously expected earnings between $22.98 a share and $23.18 a share on revenue of $21 billion to $21.2 billion.

Separately, Intuit said it would lay off 17% of its workforce, or about 3,000 employees worldwide, to streamline operations and sharpen its focus on key bets, including its AI efforts. The restructuring would cost $300 million to $340 million, and most of that cost would be booked in the fourth quarter.

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