Mizuho Securities analyst Siti Panigrahi has maintained their bullish stance on INTU stock, giving a Buy rating yesterday.
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Siti Panigrahi has given his Buy rating due to a combination of factors that suggest strong potential for Intuit’s Credit Karma segment. Recent data from major financial institutions like Bank of America and Wells Fargo indicate a substantial increase in new credit card accounts, which is a primary revenue driver for Credit Karma. This trend is expected to positively impact Intuit’s financial performance in the upcoming quarter.
Moreover, Credit Karma has consistently outperformed the growth rates of these new credit card accounts over the past year, suggesting that the current market forecasts may be underestimating its potential. The anticipated upside in Credit Karma’s revenue, driven by credit card and personal loan growth, supports the optimistic outlook for Intuit’s stock, justifying the Buy rating.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $735.00 price target.