Wells Fargo analyst Michael Turrin lowered the firm’s price target on Intuit to $475 from $525 and keeps an Overweight rating on the shares. The analyst notes Intuit’s Q1 results were above guidance, in line with the prior pre-announce provided earlier this month. The SBSE segment continues to drive outperformance, with growth +19%, offset by Credit Karma-related headwinds – which led to just 2% growth, Turrin adds. Post print, he expects Intuit’s shares will go quieter into year end, with the tax season discussion early next year presenting the next likely catalyst.
Published first on TheFly
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