Macquarie maintains a 'Neutral' on Intuit (INTU); Read-Through from H&R's (HRB) Tax Season Update
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Price: $338.47 -2.08%
Rating Summary:
31 Buy, 12 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
31 Buy, 12 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Macquarie maintains a 'Neutral' on Intuit (NASDAQ: INTU) price target of $61.00.
Macquarie analyst said, "H&R Block (NYSE: HRB) reported F3Q12 results including a February 28th tax season update. Management commentary indicated HRB outpaced TurboTax growth in all categories on a comparable basis thru 2/18, but we believe HRB and INTU both gained share from other do-it-yourself tax competitors."
"We do not believe the data necessarily indicates HRB gained share from INTU as 1) comScore (Nasdaq: SCOR) data indicates both TurboTax and H&R Block increased share in online units filed between 1/1-2/18. TurboTax grew its share to 58.7% from 57.5% last year and H&R Block grew to 15.8% share from 15.4% and 2) season-to-date, trends appear similar to last year when HRB outpaced INTU in total tax season non-FFA digital unit growth (15% vs. 12%), with both gaining share from smaller competitors."
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 $57.13 yesterday.
Macquarie analyst said, "H&R Block (NYSE: HRB) reported F3Q12 results including a February 28th tax season update. Management commentary indicated HRB outpaced TurboTax growth in all categories on a comparable basis thru 2/18, but we believe HRB and INTU both gained share from other do-it-yourself tax competitors."
"We do not believe the data necessarily indicates HRB gained share from INTU as 1) comScore (Nasdaq: SCOR) data indicates both TurboTax and H&R Block increased share in online units filed between 1/1-2/18. TurboTax grew its share to 58.7% from 57.5% last year and H&R Block grew to 15.8% share from 15.4% and 2) season-to-date, trends appear similar to last year when HRB outpaced INTU in total tax season non-FFA digital unit growth (15% vs. 12%), with both gaining share from smaller competitors."
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 $57.13 yesterday.
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