Intuit Reaffirms Outlook, Leans on Credit Karma Tax, RBC Says

11:17 AM EDT, 09/18/2026 (MT Newswires) -- Intuit (INTU) reaffirmed fiscal Q1 and fiscal 2027 guidance as the company works to address a drop in TurboTax's do-it-yourself share. RBC Capital Markets said Thursday in a report. At its investor day, management said DIY share fell 3 points in fiscal 2026, mainly due to price, RBC said. Intuit is leaning on Credit Karma Tax, a free federal filing option with a $15 state product, which is bringing in about 80% incremental users and triple the net-new customer share versus TurboTax overall, the report said. RBC said 60% of TurboTax defectors are active Credit Karma members, giving Intuit a retention path as it rebuilds its customer funnel. Fiscal 2027 will be a "transition year," and the company's shares "will need proof points on customer reacceleration to rerate," the report said. RBC maintained its outperform rating on Intuit stock and its $385 price target. Price: 306.96, Change: -6.17, Percent Change: -1.97