Analyst Consensus ?
ConsensusHold44 ratings
Bullish2659.1%
Neutral1329.5%
Bearish511.4%
Intuit Inc. · INTU · FY2026 Q2 · Calendar Q1 2026
Intuit beats Q2 estimates, revenue up 17%, full-year guidance held
Intuit's forward case rests on AI becoming its core growth engine rather than a margin drag. Management reported 17% revenue growth in Q2 FY2026 to approximately $4.7B and tied the acceleration to AI-and-human-intelligence 'done-for-you' experiences across QuickBooks, TurboTax, Credit Karma, and the mid-market push, including a new construction edition of Intuit Enterprise Suite and 40% YoY growth in the online ecosystem. Payments and bill-pay volume grew 29% YoY. Per the supplied analysis, the bull case hinges on sustaining double-digit growth while operating margins hold as AI costs and the Anthropic/OpenAI partnerships come through, with Mailchimp and desktop recapture flagged as swing factors.
Reported After market closeNASDAQTechnology
$75.81B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$4.15
Consensus $3.68
EPS surprise
+12.8%
Reported versus consensus
Reported revenue
$4.65B
Consensus $4.53B
Revenue surprise
+2.6%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+3.7%
Event window
SPY move
-0.5%
Same window
Abnormal move
+4.2%
Stock minus SPY
Volume
1.6×
Versus trailing sessions
Subsequent drift
+1.8%
Up to 20 sessions
INTUSPY benchmark
Ask FN2 about INTU FY2026 Q2
Transcript, numbers and history already loaded
Why did INTU rise 3.7% after beating EPS estimates in FY2026 Q2?What changed in INTU's guidance and outlook in FY2026 Q2?Give me the bull and bear case for INTU after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Intuit maintained momentum relative to Q1 FY2026 (18% revenue growth to $3.9B in the prior quarter) with 17% growth to approximately $4.7B in Q2, and reiterated its full-year outlook. New developments this quarter include the broader rollout of Intuit Intelligence, a multi-year partnership with Anthropic, inclusion of all four Intuit apps in OpenAI's App Directory, and the construction edition of Intuit Enterprise Suite. EPS of $4.15 beat consensus by 12.8%. The stock rose about 4.2% relative to the benchmark in the session after reporting, with 1.57x baseline volume.
Guidance delta
Management maintained (guidance sentiment: maintained) and reaffirmed full-year FY2026 guidance, continuing to expect double-digit revenue growth for the year. No upward revision was cited despite Q2 over-performance; some operating-margin guidance leans on Q2 over-delivery, with some costs shifting into Q3 (a concern raised on the call).
Key takeaways
- Q2 FY2026 revenue grew 17% YoY to approximately $4.7B; GAAP EPS of $4.15 beat the $3.68 consensus (12.8% surprise).
- Double-digit growth across QuickBooks, TurboTax, and the mid-market ecosystem; payments and bill-pay volume grew 29% YoY.
- Intuit Intelligence, the AI-and-human-intelligence platform behind 'done-for-you' experiences, is scaling, and all four Intuit apps were added to OpenAI's App Directory.
- A new construction-specific edition of Intuit Enterprise Suite marked the first industry-focused AI-native ERP; the online ecosystem grew 40% YoY.
- Full-year FY2026 guidance reaffirmed with double-digit revenue growth expected.
Management priorities
- Broad rollout of Intuit Intelligence across the ecosystem.
- Release of additional industry-specific Intuit Enterprise Suite editions beyond construction.
- Expand the direct sales force by roughly 30% and deepen the accountant reseller network.
- Grow the network of 600+ local tax service centers plus virtual AI-driven filing options.
- Develop AI partnerships (Anthropic, OpenAI) while keeping proprietary data within Intuit's architecture.
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Beat
Miss
Match
Analyst 52W Price Targets
$276.49Current
$276Low
$512.94Average
$880High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Hold | Hold | Maintain | Sep 18, 2026 |
| TD Cowen | Hold | Hold | Maintain | Sep 18, 2026 |
| Stifel | Hold | Hold | Maintain | Sep 18, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 18, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Sep 18, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Sep 18, 2026 |
| Goldman Sachs | Sell | Sell | Maintain | Aug 27, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Aug 26, 2026 |
| Susquehanna | Positive | Positive | Maintain | Aug 26, 2026 |
| Piper Sandler | Underweight | Underweight | Maintain | Aug 26, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 26, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 26, 2026 |
| JP Morgan | Neutral | Overweight | Downgrade | Aug 26, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 26, 2026 |
| Jefferies | Buy | Buy | Maintain | Aug 24, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Aug 19, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 13, 2026 |
| UBS | Neutral | Neutral | Maintain | May 21, 2026 |
| Keybanc | Overweight | Overweight | Maintain | May 21, 2026 |
| Freedom Broker | Hold | Buy | Downgrade | May 21, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | May 21, 2026 |
| Rothschild & Co | Buy | Neutral | Upgrade | Mar 10, 2026 |
| B of A Securities | Buy | Buy | Maintain | Aug 22, 2025 |
| Scotiabank | Sector Outperform | Sector Perform | Upgrade | Apr 17, 2025 |
| Erste Group | Hold | Buy | Downgrade | Jun 14, 2024 |
| Wolfe Research | Outperform | Outperform | Maintain | Sep 29, 2023 |
| Argus Research | Buy | Buy | Maintain | Sep 6, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 25, 2023 |
| Exane BNP Paribas | Neutral | Underperform | Upgrade | Jul 19, 2023 |
| MoffettNathanson | Outperform | Outperform | Maintain | Sep 22, 2022 |
| Stifel Nicolaus | Buy | Buy | Maintain | Aug 23, 2019 |
| Argus | Buy | Buy | Maintain | Nov 21, 2018 |
| Guggenheim | Buy | Buy | Maintain | Aug 8, 2018 |
| Bank of America | Buy | Buy | Maintain | Jun 11, 2018 |
| First Analysis | Underweight | Equal Weight | Downgrade | May 23, 2018 |
| Raymond James | Underperform | Market Perform | Downgrade | Sep 27, 2017 |
| William Blair | Outperform | Outperform | Maintain | Sep 19, 2017 |
| Benchmark | Buy | Buy | Maintain | Apr 27, 2017 |
| Brean Capital | Buy | Buy | Maintain | Aug 24, 2016 |
| Wedbush | Neutral | Neutral | Maintain | Nov 20, 2015 |
| FBR Capital | Sector Perform | Sector Perform | Maintain | Aug 21, 2015 |
| Evercore Partners | Underweight | Equal Weight | Downgrade | Oct 2, 2014 |
| Millman Research | Hold | Buy | Downgrade | Nov 16, 2012 |
| Bank oferica | Buy | Buy | Maintain | May 18, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $276.49. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| RBC Capital | Analyst unavailable | $385 | $307.56 | +39.2% | Sep 18, 2026 |
| UBS | Analyst unavailable | $370 | $347.66 | +33.8% | Aug 27, 2026 |
| Goldman Sachs | Analyst unavailable | $304 | $345.88 | +9.9% | Aug 26, 2026 |
| KeyBanc | Analyst unavailable | $400 | $347.77 | +44.7% | Aug 26, 2026 |
| Truist Financial | Arvind Ramnani | $300 | $348.85 | +8.5% | Aug 26, 2026 |
| Oppenheimer | Scott Schneeberger | $380 | $357.46 | +37.4% | Aug 26, 2026 |
| Susquehanna | Analyst unavailable | $415 | $357.46 | +50.1% | Aug 26, 2026 |
| Stifel Nicolaus | Analyst unavailable | $300 | $357.46 | +8.5% | Aug 26, 2026 |
| Piper Sandler | Analyst unavailable | $290 | $357.46 | +4.9% | Aug 26, 2026 |
| Barclays | Analyst unavailable | $408 | $357.46 | +47.6% | Aug 26, 2026 |
| Wells Fargo | Michael Turrin | $300 | $357.46 | +8.5% | Aug 26, 2026 |
| Morgan Stanley | Adam Wood | $315 | $357.46 | +13.9% | Aug 26, 2026 |
| Jefferies | Analyst unavailable | $500 | $367 | +80.8% | Aug 23, 2026 |
| Deutsche Bank | Analyst unavailable | $425 | $364.01 | +53.7% | Aug 19, 2026 |
| Mizuho Securities | Siti Panigrahi | $430 | $345.66 | +55.5% | Aug 17, 2026 |
| Truist Financial | Analyst unavailable | $350 | $318.39 | +26.6% | Aug 3, 2026 |
| Morgan Stanley | Adam Wood | $335 | $293.82 | +21.2% | Jul 21, 2026 |
| Susquehanna | Analyst unavailable | $427 | $291.09 | +54.4% | Jul 20, 2026 |
| Piper Sandler | Analyst unavailable | $250 | $289.76 | -9.6% | Jul 14, 2026 |
| Stifel Nicolaus | Analyst unavailable | $275 | $269.08 | -0.5% | Jun 17, 2026 |
| Goldman Sachs | Gabriela Borges | $276 | $353.76 | -0.2% | Jun 2, 2026 |
| Mizuho Securities | Siti Panigrahi | $500 | $319.94 | +80.8% | May 26, 2026 |
| Argus Research | Analyst unavailable | $480 | $308.06 | +73.6% | May 22, 2026 |
| Truist Financial | Analyst unavailable | $410 | $307.5 | +48.3% | May 21, 2026 |
| Oppenheimer | Analyst unavailable | $406 | $383.93 | +46.8% | May 21, 2026 |
| BMO Capital | Analyst unavailable | $412 | $306.81 | +49.0% | May 21, 2026 |
| UBS | Taylor McGinnis | $360 | $383.93 | +30.2% | May 21, 2026 |
| Wells Fargo | Analyst unavailable | $360 | $383.93 | +30.2% | May 21, 2026 |
| Stifel Nicolaus | Brad Reback | $375 | $383.93 | +35.6% | May 21, 2026 |
| Jefferies | Brent Thill | $550 | $383.93 | +98.9% | May 21, 2026 |
| Wolfe Research | Alex Zukin | $400 | $383.93 | +44.7% | May 21, 2026 |
| RBC Capital | Rishi Jaluria | $500 | $383.93 | +80.8% | May 21, 2026 |
| Barclays | Raimo Lenschow | $443 | $383.93 | +60.2% | May 21, 2026 |
| Evercore ISI | Kirk Materne | $400 | $383.93 | +44.7% | May 21, 2026 |
| Barclays | Raimo Lenschow | $540 | $451.57 | +95.3% | Mar 16, 2026 |
| Guggenheim | Analyst unavailable | $633 | $453.43 | +128.9% | Mar 16, 2026 |
| Wolfe Research | Alex Zukin | $550 | $435.13 | +98.9% | Mar 12, 2026 |
| Scotiabank | Analyst unavailable | $575 | $466.78 | +108.0% | Mar 6, 2026 |
| Susquehanna | Analyst unavailable | $720 | $359.55 | +160.4% | Feb 24, 2026 |
| Jefferies | Analyst unavailable | $650 | $380.55 | +135.1% | Feb 22, 2026 |
| Mizuho Securities | Siti Panigrahi | $675 | $389.57 | +144.1% | Feb 19, 2026 |
| BMO Capital | Analyst unavailable | $624 | $437.5 | +125.7% | Feb 10, 2026 |
| Goldman Sachs | Gabriela Borges | $720 | $646.9 | +160.4% | Jan 12, 2026 |
| Wells Fargo | Analyst unavailable | $700 | $651.15 | +153.2% | Jan 8, 2026 |
| UBS | Analyst unavailable | $739 | $633.84 | +167.3% | Jan 6, 2026 |
| BMO Capital | Daniel Jester | $810 | $637.44 | +193.0% | Nov 21, 2025 |
| Independent Research | Analyst unavailable | $875 | $649.73 | +216.5% | Nov 18, 2025 |
| RBC Capital | Rishi Jaluria | $850 | $661.99 | +207.4% | Sep 2, 2025 |
| Morgan Stanley | Keith Weiss | $880 | $662.66 | +218.3% | Aug 22, 2025 |
| Stifel Nicolaus | Analyst unavailable | $800 | $662.66 | +189.3% | Aug 22, 2025 |
| UBS | Analyst unavailable | $725 | $662.66 | +162.2% | Aug 22, 2025 |
| KeyBanc | Analyst unavailable | $825 | $662.66 | +198.4% | Aug 22, 2025 |
| Barclays | Raimo Lenschow | $785 | $662.66 | +183.9% | Aug 22, 2025 |
| BMO Capital | Daniel Jester | $870 | $754.35 | +214.7% | Jul 10, 2025 |
| Wells Fargo | Michael Turrin | $880 | $753.98 | +218.3% | Jun 13, 2025 |
| UBS | Taylor McGinnis | $750 | $720.13 | +171.3% | May 23, 2025 |
| Jefferies | Brent Thill | $850 | $720.13 | +207.4% | May 23, 2025 |
| Goldman Sachs | Kash Rangan | $750 | $670.86 | +171.3% | May 19, 2025 |
| Evercore ISI | Kirk Materne | $725 | $619.03 | +162.2% | Sep 27, 2024 |
| Citigroup | Steven Enders | $760 | $619.03 | +174.9% | Sep 27, 2024 |
| RBC Capital | Rishi Jaluria | $760 | $644.99 | +174.9% | Sep 23, 2024 |
| Goldman Sachs | Kash Rangan | $765 | $619.85 | +176.7% | Aug 23, 2024 |
| Piper Sandler | Arvind Ramnani | $768 | $619.95 | +177.8% | Aug 23, 2024 |
| Stifel Nicolaus | Brad Reback | $795 | $665.29 | +187.5% | Aug 23, 2024 |
| Bank of America Securities | Brad Sills | $780 | $665.29 | +182.1% | Aug 23, 2024 |
| Barclays | Raimo Lenschow | $740 | $665.29 | +167.6% | Aug 23, 2024 |
| Morgan Stanley | Keith Weiss | $685 | $645.83 | +147.7% | Aug 14, 2024 |
| Jefferies | Brent Thill | $770 | $592.22 | +178.5% | Jun 12, 2024 |
| Piper Sandler | Arvind Ramnani | $760 | $608.86 | +174.9% | May 24, 2024 |
| Stifel Nicolaus | Brad Reback | $690 | $662.26 | +149.6% | May 24, 2024 |
| Goldman Sachs | Kash Rangan | $705 | $662.26 | +155.0% | May 24, 2024 |
| Deutsche Bank | Brad Zelnick | $740 | $662.26 | +167.6% | May 24, 2024 |
| BMO Capital | Daniel Jester | $700 | $671.1 | +153.2% | May 23, 2024 |
| Wells Fargo | Michael Turrin | $750 | $670.15 | +171.3% | May 21, 2024 |
| UBS | Taylor McGinnis | $670 | $661.18 | +142.3% | May 20, 2024 |
| KeyBanc | Josh Beck | $740 | $661.18 | +167.6% | May 20, 2024 |
| Morgan Stanley | Keith Weiss | $740 | $632.63 | +167.6% | May 13, 2024 |
| KeyBanc | Alex Markgraff | $720 | $643.96 | +160.4% | Mar 27, 2024 |
| Piper Sandler | Arvind Ramnani | $750 | $664.5 | +171.3% | Feb 23, 2024 |
| Loop Capital Markets | Daniel Jester | $605 | $554.52 | +118.8% | Sep 7, 2023 |
| BNP Paribas | Stefan Slowinski | $532 | $495.43 | +92.4% | Jul 19, 2023 |
| Loop Capital Markets | Daniel Jester | $485 | $419.78 | +75.4% | May 24, 2023 |
| Barclays | Raimo Lenschow | $495 | $454.11 | +79.0% | May 23, 2023 |
| KeyBanc | Josh Beck | $450 | $419.81 | +62.8% | Feb 24, 2023 |
| Deutsche Bank | Analyst unavailable | $525 | $400.55 | +89.9% | Nov 30, 2022 |
| Wells Fargo | Analyst unavailable | $475 | $394.38 | +71.8% | Nov 30, 2022 |
| BMO Capital | Analyst unavailable | $448 | $379.71 | +62.0% | Nov 30, 2022 |
| Jefferies | Analyst unavailable | $525 | $379.71 | +89.9% | Nov 30, 2022 |
| Barclays | Analyst unavailable | $465 | $379.71 | +68.2% | Nov 30, 2022 |
| Morgan Stanley | Analyst unavailable | $520 | $384.02 | +88.1% | Nov 22, 2022 |
| BMO Capital | Analyst unavailable | $467 | $375.73 | +68.9% | Nov 21, 2022 |
| Stifel Nicolaus | Analyst unavailable | $475 | $398.56 | +71.8% | Sep 30, 2022 |
| Piper Sandler | Arvind Ramnani | $553 | $472.2 | +100.0% | Aug 24, 2022 |
| Deutsche Bank | Analyst unavailable | $560 | $479.6 | +102.5% | Aug 24, 2022 |
| Compass Point | Josh Beck | $525 | $449.56 | +89.9% | Aug 24, 2022 |
| KeyBanc | Josh Beck | $525 | $449.56 | +89.9% | Aug 24, 2022 |
| Stifel Nicolaus | Analyst unavailable | $525 | $474.14 | +89.9% | Aug 18, 2022 |
| Loop Capital Markets | Josh Beck | $500 | $387.92 | +80.8% | May 25, 2022 |
| Credit Suisse | Yaoxian Chew | $500 | $358.97 | +80.8% | May 25, 2022 |
| Stifel Nicolaus | Analyst unavailable | $465 | $358.97 | +68.2% | May 25, 2022 |
| Morgan Stanley | Keith Weiss | $550 | $367.78 | +98.9% | May 23, 2022 |
| Barclays | Raimo Lenschow | $480 | $367.78 | +73.6% | May 21, 2022 |
| Wells Fargo | Michael Turrin | $635 | $445.58 | +129.7% | Apr 28, 2022 |
| Morgan Stanley | Keith Weiss | $720 | $482.84 | +160.4% | Apr 9, 2022 |
| Stifel Nicolaus | Brad Reback | $580 | $480.5 | +109.8% | Mar 28, 2022 |
| Barclays | Raimo Lenschow | $625 | $487.18 | +126.0% | Feb 26, 2022 |
| Jefferies | Brent Thill | $700 | $486.51 | +153.2% | Feb 25, 2022 |
| Guggenheim | Kenneth Wong | $785 | $486.51 | +183.9% | Feb 25, 2022 |
| Evercore ISI | Kirk Materne | $645 | $486.51 | +133.3% | Feb 25, 2022 |
| Bank of America Securities | Bradley Sills | $650 | $486.51 | +135.1% | Feb 25, 2022 |
| Piper Sandler | Arvind Ramnani | $674 | $486.51 | +143.8% | Feb 25, 2022 |
| Goldman Sachs | Kash Rangan | $715 | $486.51 | +158.6% | Feb 25, 2022 |
| J.P. Morgan | Sterling Auty | $640 | $486.51 | +131.5% | Feb 25, 2022 |
| Deutsche Bank | Brad Zelnick | $650 | $496.45 | +135.1% | Feb 24, 2022 |
| Wells Fargo | Michael Turrin | $725 | $495.5 | +162.2% | Feb 17, 2022 |
| Mizuho Securities | Siti Panigrahi | $650 | $544.02 | +135.1% | Feb 6, 2022 |
| KeyBanc | Josh Beck | $700 | $515.99 | +153.2% | Jan 25, 2022 |
| Barclays | Raimo Lenschow | $715 | $550.79 | +158.6% | Jan 17, 2022 |
| BNP Paribas | Stefan Slowinski | $470 | $429.96 | +70.0% | May 27, 2021 |
| RBC Capital | Matthew Hedberg | $525 | $440.61 | +89.9% | May 26, 2021 |
Track every rating change on INTU the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationIntuit Inc. provides financial management, payments and capital, compliance, and marketing products and services in the United States. The company operates in four segments: Global Business Solutions, Consumer, Credit Karma, and ProTax. The Global Business Solutions segment provides QuickBooks services, which include financial and business management online services, desktop software, payroll solutions, time tracking, merchant payment processing and bill pay solutions, checking accounts, and financing services for small and mid-market businesses; and Mailchimp, a marketing automation and customer relationship management.…
Historical context
All INTU earningsTechnology peers this season
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| SAIL SailPoint, Inc. | FY2027 Q2 · Calendar Q3 2026 | +13.8% | -1.2% | SailPoint pairs 25% ARR growth with accelerating AI-driven adoption |
| CIEN Ciena Corporation | FY2026 Q3 · Calendar Q3 2026 | +22.0% | -10.4% | Ciena raises outlook as AI networking demand lifts backlog |
| DOCU DocuSign, Inc. | FY2027 Q2 · Calendar Q3 2026 | +6.4% | +3.7% | DocuSign Q2 FY27: IAM momentum supports a raised outlook |
Latest beats and misses
Who reports nextBeat on EPS
- SNXFY2026 Q3 · September 24, 2026+20.9% EPS-9.9% move
- DRIFY2027 Q1 · September 24, 20260.0% EPS-3.0% move
- CTASFY2027 Q1 · September 23, 2026+3.0% EPS-3.4% move
- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
Get the INTU recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-25T14:01:21.519269+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-25T14:01:21.516357+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-25. For educational purposes only; not investment advice.