Mizuho Cuts Intuit Target on TurboTax Weakness

Mizuho cuts Intuit target to $500 on TurboTax weakness; shares fall 20%. Read more on Bond.az.

ByLuna Torres- Senior Editor

Today / 10:02|Last updated: Today / 10:04

Mizuho Cuts Intuit Target on TurboTax Weakness — Photo: Prepared by Bond.az

Mizuho lowered its price target on Intuit (NASDAQ:INTU) to $500 from $600, maintaining an Outperform rating.

TurboTax weakness weighed on shares, which fell 20%. The stock now trades at $319.94.

TurboTax Live revenue grew 36% YoY, but low-end DIY declined in the mid-teens.

Mizuho sees durable long-term growth from TurboTax Live and the assisted tax category.

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