New York, March 4, 2026, 13:19 EST — Regular session
- Intuit picked up roughly 1.6% in early afternoon action, building on several days of gains.
- CEO Sasan Goodarzi called it a “very strong start” for TurboTax and downplayed any worries about chatbot disruption.
- Democrats rolled out a bill aiming to bring back IRS “Direct File,” raising fresh questions for companies behind paid tax prep software.
Intuit Inc was trading at $440.24, up 1.6% Wednesday afternoon. Shares had moved between $428.14 and $441.06 earlier in the session.
Intuit remains in the spotlight as U.S. tax season ramps up—the stretch that usually delivers its heaviest quarterly haul. Just last week, the tax software company projected a third-quarter profit that falls short of Wall Street’s expectations, citing higher marketing and customer support costs running through the April 15 filing deadline. Intuit’s fiscal Q3 wraps up on April 30.
Speaking at a Morgan Stanley conference on Monday, CEO Sasan Goodarzi said, “TurboTax is off to a very strong start,” noting the product’s 12% growth despite softer early-season IRS return volumes. Goodarzi dismissed the idea that large language models could supplant tax filing software, saying, “an LLM is not gonna do that” because someone still has to stand behind the liability. As for Intuit’s marketing arm, he didn’t hold back: “We’re not in love with Mailchimp,” he admitted, as the company addresses challenges there. Investing
Intuit shares tacked on 3.4% Tuesday after rising 2.5% Monday, setting up a possible six-day winning streak, but the stock is still trading about 47% under its 52-week high. In both sessions, volume cleared the 50-day average, according to MarketWatch data.
Policy risk is back on the table. Democrats have rolled out a bill aiming to bring back the IRS “Direct File” program, a free government-backed system for certain taxpayers to file federal returns, Accounting Today reported. The initiative was previously scrapped during the Trump administration. Accounting Today
U.S. stocks climbed Wednesday, lifted by easing oil prices. Investors shrugged off ongoing Middle East tensions, reviving risk appetite that’s been shaky across global markets.
In the past few days, Intuit has seen a series of price target revisions from Wall Street firms, though upbeat ratings remain intact. Argus lowered its target to $580 from $780 but stuck with a “buy,” MarketScreener reported. MarketScreener
Still, the rally faces clear hazards. Rising costs could squeeze margins, even if user growth stays solid. A comeback for a government-run filing option would eventually eat into profits from straightforward returns. Mailchimp’s recovery adds complexity, and executives haven’t shied away from admitting irritation.
With April 15 around the corner, investors are eyeing new tax-season data. Next up: quarterly results for the period ending April 30.
