My Portfolio
My Watchlists
Profile & Performance
Smart Portfolio
Find & Follow Experts
Top Lists
Top Experts
Make Better, Data Driven Investment Decisions
TipRanks tools are all you need to make data-driven investment decisions. Conduct comprehensive stock research, find new investment ideas, analyze your portfolio, and follow the best-performing Wall Street experts, with ease.
About Us
Plans & Pricing
Welcome

Intuit Acquires Mailchimp, Plans to Shift Toward AI

For small- and medium-sized businesses, reaching consumers is the key for growth. Intuit Inc. (INTU) understands this well, and that understanding led to its high-profile acquisition of Mailchimp, announced this week. The financial software company is planning a shift toward AI, and believes Mailchimp’s suite of marketing tools will aide in this endeavor.  (See Intuit stock charts on TipRanks)

Kenneth Wong of Guggenheim Partners reported on the development, asserting that the match is a “strong strategic pairing,” and that Mailchimp’s variety of CRM, marketing, and commerce solutions will complement Intuit’s software offerings.  

Wong reiterated a Buy rating on the stock, but did not provide a price target.  

The analyst wrote that the acquisition of the small enterprise marketing company is expected to close by the end of the 2022 fiscal year.  

The price tag of the deal, $12 billion, is not expected to cause negative shifts in Intuit’s share repurchasing schemes or its payments of dividends to shareholders.  

Intuit is more well-known for its financial software program, TurboTax. Wong added that its “dominant financial management offerings” of accounting, payroll, and payments tools are to be extended, using Mailchimp’s unique technology.  

On TipRanks, INTU has an analyst rating consensus of Strong Buy, based on 14 Buy ratings and 1 Hold rating. The average Intuit price target is $626.25, representing a potential 12-month upside of 10.92%. This statistic is accurate as of 11:09am EST Tuesday.  

Disclosure: At the time of publication, Brock Ladenheim did not have a position in any of the securities mentioned in this article.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of Tipranks or its affiliates, and should be considered for informational purposes only. Tipranks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. Tipranks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by Tipranks or its affiliates. Past performance is not indicative of future results, prices or performance.