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Key Takeaways

• Intuit shares surged Friday as several analysts lifted their price targets after the company reported better-than-expected earnings and raised its outlook.

• UBS analysts said the results showed "eye-popping consumer strength."

• Intuit could also benefit from new legislation that would reduce competition.

Intuit (INTU) shares popped Friday as several analysts lifted their price targets after the tax and accounting software provider reported stronger-than-expected earnings and raised its outlook.

Shares of Intuit jumped more than 8% to $723 in recent trading, bringing the stock's year-to-date gains to about 15%.

The TurboTax parent showed “eye-popping consumer strength,” UBS wrote following the results. “After a couple years of stumbling, this year’s performance likely lifts sentiment,” the bank added, raising its price target to $750 from $720.

Meanwhile, Oppenheimer analysts boosted their target to $742 from $642, calling TurboTax “largely resilient” in an uncertain macro environment. Jefferies lifted its target to $850 from $735, and Citi moved to $789 from $726.

‘Big Beautiful Bill’ Would Kill IRS Free File

Intuit could also benefit from new legislation that would reduce competition. On Thursday, the House of Representatives voted to advance the "One Big Beautiful Bill," the budget proposal backed by President Trump. The bill would make sweeping changes to the tax code if signed into law—including the elimination of the IRS's Direct File program.

The free IRS direct filing system competes with Intuit's TurboTax, which offers both free and paid tax filing software. The program was praised by its 141,000 users in its first year in 2024 and was expanded in 2025, with an estimated 30 million people eligible to use it.

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