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Intuit's stock surged over 8% to $723 after the company reported stronger-than-expected earnings and raised its outlook, with analysts from UBS noting "eye-popping consumer strength." Price targets were lifted by several firms, with Jefferies setting a new target of $850. Additionally, new legislation could reduce competition by eliminating the IRS's Direct File program, which competes with TurboTax.
Deutsche Bank has raised its price target on Intuit Inc. to $815 from $750 while maintaining a Buy rating. Intuit specializes in management software for individuals and small to medium businesses, with key products including QuickBooks, TurboTax, and Credit Karma, primarily generating sales in the U.S.
Barclays has raised its price target for Intuit (INTU) from $775 to $815, maintaining an Overweight rating following strong fiscal Q3 results, particularly from Credit Karma and the Consumer segment. The company has upgraded its fiscal year guidance across key metrics, reflecting confidence in its business stability. Analysts project an average target price of $731.60, indicating a potential upside of 9.84% from the current price of $666.07.
Barclays has raised its price target on Intuit Inc. to $815 from $775 while maintaining an Overweight rating. Intuit specializes in management software for individuals and small to medium businesses, with a product breakdown that includes accounting software (58.5%), personal tax management (27.3%), credit management (10.5%), and professional tax software (3.7%). The majority of its sales occur in the United States.
Amazon is partnering with Intuit to integrate QuickBooks software into its Seller Central platform by mid-2025, providing third-party sellers with essential accounting tools and access to loans through QuickBooks Capital. This collaboration aims to enhance financial management for sellers, particularly smaller businesses, as they prepare for the holiday season. The integration will offer real-time insights into profitability, cash flow, and tax estimates, supporting sellers in scaling their operations efficiently.
Intuit CFO Sandeep Aujla will present at the UBS Global Technology Conference on December 3, 2024, at 9:55 a.m. PT. The session will be available live via audio webcast on Intuit’s investor relations website, with a replay accessible 24 hours post-presentation.
Stock futures dipped slightly on Thursday evening, with the Dow down 20 points and the Nasdaq 100 futures falling 0.3%. Despite this, Wall Street is on track for a positive week, led by a 1.56% gain in the Nasdaq Composite. Notable after-hours movers included Gap, which surged 15% after beating earnings estimates, while Intuit fell over 5% despite a strong quarterly report. Texas Pacific Land is set to join the S&P 500 next week as part of index changes.
Intuit shares dropped 6% in after-hours trading following a quarterly forecast that missed analysts' estimates due to delayed sales. While the company reported a 10% year-over-year revenue increase of $3.28 billion and adjusted earnings per share of $2.50, its second-quarter guidance fell short, anticipating a revenue decline in the consumer segment. For the full fiscal year, Intuit expects adjusted earnings per share between $19.16 and $19.36, with revenue growth projected at 12% to 13%.
Intuit Inc. experienced a decline in extended trading after providing a sales and profit forecast that disappointed investors. The company projected revenue of approximately $3.83 billion for the quarter ending January 31, falling short of analysts' expectations of $3.86 billion, while earnings are expected to be around $2.58 per share, also below estimates.
Stock futures remained largely unchanged as investors reacted to Nvidia's earnings report, which, despite beating expectations, saw shares drop nearly 2%. Snowflake surged over 18% after also exceeding earnings forecasts. The Dow is on track to underperform this week, while the S&P 500 and Nasdaq Composite have seen gains.
Intuit Inc.
Companies
| Symbol | INTU |
| Name | Intuit Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Software & Services |
| Industry | Software |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | Mountain View |
| Zipcode | 94043 |
| Website | http://www.intuit.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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