TurboTax News & Analysis
3 articles
Market Mood
Intuit (INTU) projects FY2027 revenue of $23.3B to $23.5B
Intuit (INTU) stock fell 12% after disappointing fiscal 2027 revenue guidance of $23.3 billion to $23.5 billion, reflecting a slowdown to 9% to 10% growth from 14% in fiscal 2026. TurboTax federal units dropped 2% to 39.0 million, with online and desktop units also declining. For fiscal 2027, TurboTax revenue is projected at $5.4 billion to $5.5 billion, growing only 2% to 3%. As the company focuses on gaining market share, these developments highlight ongoing challenges amidst rising competition and an increasing shift towards AI tools.
Read More: Intuit (INTU) projects FY2027 revenue of $23.3B to $23.5B
Intuit (INTU) Target Price Reduced from $600 to $500 by Analyst
Intuit Inc. (INTU) saw its price target lowered from $600 to $500 by Mizuho analyst Siti Panigrahi on May 26, while maintaining an Outperform rating. This adjustment follows a perceived weakness in the company's TurboTax platform, which contributed to a decline post-earnings. Despite this, Panigrahi remains optimistic about Intuit's long-term growth potential, particularly through TurboTax Live and the assisted tax market. Intuit continues to enhance its offerings, integrating AI with platforms such as Mailchimp to support small and mid-sized enterprises.
Read More: Intuit (INTU) Target Price Reduced from $600 to $500 by Analyst
US Court Rejects FTC Order Against Intuit Over TurboTax Advertising Practices
A US court has thrown out a Federal Trade Commission (FTC) order that directed Intuit to cease certain advertising practices related to TurboTax. The FTC had claimed that the advertisements were misleading to consumers. The decision may have implications for advertising regulations and practices in the tax preparation industry. The rejection underscores the ongoing legal battles over marketing strategies presented by major corporations.
Read More: US Court Rejects FTC Order Against Intuit Over TurboTax Advertising Practices