Intuit (INTU) Consumer Estimates Raised After Final IRS Filing Data is Released, Mizuho Securities Sees Upside

Mizuho Securities analyst Siti Panigrahi reiterated a Buy rating and $330.00 price target on Intuit (NASDAQ: INTU) after the IRS released tax filing data for the final week of the tax filing season. The
IRS reported there were 69,573,000 DIY filers as of the week ending 7/17 implying that TurboTax benefitited from COVID-19 units.

The analyst is incrementally confident that Intuit will Outperform its Consumer Group peers on revenue in FQ4/FY20 on TurboTax unit growth stating "we now expect Intuit's Turbo Tax to see 46.0 million units or 7.0% Y/Y growth in FY20 (versus our prior estimate of 44.9 million and 4.6% Y/Y)".

For an analyst ratings summary and ratings history on Intuit click here. For more ratings news on Intuit click here.

Shares of Intuit closed at $288.68 yesterday.

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