Intuit bill pay offering ‘disruptively priced,’ says Mizuho

Mizuho analyst Siti Panigrahi keeps a Buy rating on Intuit (INTU) with a $600 price target following the release of QuickBooks Bill Pay. The analyst believes Intuit’s bill pay offering is “disruptively priced” versus Bill’s (BILL) bill pay solution and serves as a viable bill pay alternative for small business customers. QuickBooks Bill Pay provides Intuit a $1.6B-plus annual recurring revenue opportunity, the analyst tells investors in a research note. The firm believes Intuit will continue to add features, and expects to hear more about its strategy at its investor day on September 28. While Intuit’s bill pay solution does not offer full feature parity with Bill’s solution right now, this should come in the coming quarters, contends Mizuho.