Intuit (INTU) Shares Sink More Than 20% as DIY Tax Weakness Overshadows Q1 Revenue Match

Intuit shares tumbled more than 20% on May 27, 2026, even after the tax-software maker reported fiscal first-quarter revenue in line with Wall Street forecasts. The selloff was driven by deepening concerns over its do-it-yourself tax segment, which suffered a contraction in overall filings and lost ground among price-sensitive customers. CEO Sasan Goodarzi acknowledged the setback, stating bluntly, “We lost on price” in the lower-income tier, signaling a potential overhaul of the business model for simple returns. The stock fell to around $303.68 from $383.93 before the earnings report. While the company pointed to strong growth in assisted tax and mid-market offerings, analysts are closely watching upcoming pricing changes for DIY filers and the August launch of an AI-driven Expert platform. The post-earnings slide intensified scrutiny on Intuit’s ability to reverse market-share erosion in its core tax-preparation business.