INTU changes
Pick any two versions below to diff them.
- Price
- $275.79 → $275.71(−0.0%)
- Next earnings
- 2026-12-01 → 2026-11-25
- Next earnings is estimate
- No → Yes
- Thesis
- Investors fear that free AI tools will let simple tax filers skip TurboTax. They also fear AI chat tools will take over Credit Karma's business of matching users with loans and cards. This fear deepened in May 2026, when Intuit cut its TurboTax revenue guidance. Intuit said it lost price-sensitive filers and cut 17% of its workforce. A securities class action followed, adding legal cost and extra negative attention on top of the growth worry. The gap can close if Intuit's own AI agents, built with OpenAI and Anthropic, keep customers filing and banking inside its apps instead of moving to outside AI tools. Fiscal 2026 results published in August 2026 showed Intuit topped $20 billion in revenue, with its newer "Big Bets" products growing 34%. At its September 17, 2026 investor day, Intuit reiterated 9-10% revenue growth for fiscal 2027. The real test is the next tax season, which runs from January to April 2027. TurboTax must show it kept its price-sensitive filers this time. Q1 fiscal 2027 earnings on December 1,in late November 2026 give the first read before that season starts. If TurboTax holds share through tax season 2027 and Credit Karma keeps growing, the AI-disruption discount should start to close over the next two to four quarters.