In a report released today, Keith Weiss from Morgan Stanley maintained a Buy rating on Intuit (INTU – Research Report), with a price target of $720.00.
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Keith Weiss has given his Buy rating due to a combination of factors that suggest a promising outlook for Intuit’s stock. The company’s conservative guidance for operating margins and earnings per share (EPS) in FY25 implies potential for upward revisions, especially as the tax season concludes with cautious optimism. Intuit’s strategic efforts to regain market share in the DIY tax segment through aggressive pricing and the introduction of their Full Assist offering are expected to counteract previous concerns.
Additionally, Intuit’s strong performance with mid-sized businesses, as highlighted by the AlphaWise SMB Survey, reinforces confidence in their move upmarket with the Intuit Enterprise Suite. The potential for cross-selling Online Services such as Payments, Payroll, and Mailchimp further supports this positive outlook. Despite some uncertainties, such as the performance of Credit Karma in a challenging macro environment, the company’s focus on operational efficiency and AI-driven savings enhances the likelihood of meeting or exceeding expectations. Overall, these factors contribute to the expectation of positive revisions to Intuit’s estimates, aligning the stock closer to the target price.
In another report released yesterday, Citi also reiterated a Buy rating on the stock with a $726.00 price target.
Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INTU in relation to earlier this year.