Intuit (INTU, Financial) is set to experience a positive shift in market sentiment following news that the IRS’ Direct File program may be eliminated under the Trump administration's plan. This program, which had been perceived as a potential threat to Intuit’s business, now appears to pose less of a risk than previously feared.
According to a recent tax survey, Intuit’s TurboTax has maintained a stable market share, suggesting that the company's tax software business is on solid ground. Citi, acknowledging this development, retains a Buy rating for Intuit with a price target of $726 per share. The removal of the IRS program is anticipated to alleviate some of the concerns surrounding Intuit's tax segment, further reinforcing the firm's positive outlook on the stock.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 27 analysts, the average target price for Intuit Inc (INTU, Financial) is $705.38 with a high estimate of $860.00 and a low estimate of $530.00. The average target implies an upside of 20.97% from the current price of $583.09. More detailed estimate data can be found on the Intuit Inc (INTU) Forecast page.
Based on the consensus recommendation from 32 brokerage firms, Intuit Inc's (INTU, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Intuit Inc (INTU, Financial) in one year is $732.22, suggesting a upside of 25.58% from the current price of $583.09. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Intuit Inc (INTU) Summary page.
