Shares of key software majors Oracle, Microsoft, and Salesforce also gained last week.
- Moves show investors are returning to software stocks, looking past AI-disruption fears.
- Intuit shares gained 17.6% last week. Closely behind, ServiceNow stock advanced 15.2%.
- Stocktwits sentiment for INTU, however, slid over the week to ‘bearish’ as of Sunday.
Intuit, Inc. is leading the rebound among software stocks in reclaiming ground lost in an indiscriminate selloff over the last two months, amid fears that general-purpose AI would erode the need for specialized software.
Shares of the accounting software maker rose 17.6% last week, their best performance since August 2001. Key software stocks ServiceNow, Adobe and Salesforce gained 15.2%, 8% and 3.8%, respectively. Microsoft shares gained 4.1%, while Oracle shares gained 5.2%.
The moves suggest investors are looking past fears of AI-driven disruption and returning to stocks with strong fundamentals that now trade at attractive valuations.
Intuit Earnings Recap
Intuit, which offers a portfolio of tax and accounting tools such as TurboTax, Credit Karma, and QuickBooks, reported second-quarter results on Feb. 26.
The company reported sales and profit higher than Wall Street’s expectations, and although its third-quarter revenue guide came in soft, the management maintained that it is on track to meet its forecast for the full fiscal year, which ends in July.
Just before the report, Intuit announced a multi-year partnership with Anthropic, aimed at bringing customizable AI agents to businesses and expanding financial tools across Anthropic’s platforms.
Anthropic’s Claude Trigger
Anthropic’s Claude Cowork tool, along with its recently launched plugins designed to help customers with tasks such as customer service, product management, legal drafting, and data analysis, were key triggers for the software selloff.
Retail Reacts To INTU
On Stocktwits, the retail sentiment for INTU has moved inversely with the stock’s rise and was ‘bearish’ as of late Sunday. Still, a number of users posted positively about the recent strength, forecasting more to come.
“$INTU Still has room to run,” said a user.
On Stocktwits, INTU has seen message volume surge by over 33% in the past week, while followers have grown by more than 8% over the past 30 days, underscoring healthy retail-trader interest in the battered large-cap stock.
Currently, 27 of 35 analysts rate the Intuit stock ‘Buy’ or higher, seven rate it ‘Hold,’ and one rates it ‘Sell,’ according to Koyfin data. Their average price target of $605.52 implies a 26% upside from the stock’s last close.
Last week, Wall Street posted mixed takes on INTU, with Goldman Sachs, Mizuho and Citi all lowering their price targets on the stock. Northcoast, meanwhile, upgraded Intuit to ‘Buy’ from ‘Neutral’ with a $575 price target, citing valuation as the driver of the upgrade, as the shares are down almost 30% in 2026. The research firm said the selloff reflects concerns about AI disruption, but the fears are masking Intuit’s “durable” tax and small-business franchise.
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