On June 9, Intuit declined 3.08% in regular trading, trading at $295.99/share with trading volume of $437 million. The stock continues to face persistent selling pressure from Goldman Sachs' earlier downgrade from neutral to sell, with a target price slashed from $519 to $276.

Goldman Sachs cited intensifying competition in the tax software segment, slowing growth in the Mailchimp business, and doubts over the company's ability to deliver on medium-to-long-term earnings guidance. The investment bank noted that current valuations have not fully priced in these industry headwinds. While Intuit has stated that AI-related competitors have not yet eroded its existing market share, and most sell-side analysts still maintain buy ratings, Goldman's bearish stance significantly deviates from market consensus. Broader weakness in the application software sector further compounded the pressure, with peers including IREN down 7.81%, AppLovin down 7.70%, Strategy down 7.39%, Salesforce down 4.58%, and Palantir down 4.33%.

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