Wall Street Analysts Respond to Intuit Analyst Day

Intuit’s recent annual Analyst Day was met with positive responses from Wall Street, as analysts underscored the company’s strategic direction, advancements in artificial intelligence, and its potential for growth by targeting higher market segments.

Wolfe Research maintained an Outperform rating on Intuit, increasing its price target to $725 from $710 per share. The firm underscored Intuit’s focus on its new Enterprise Suite functionality, expressing optimism about the company’s potential benefits from AI.

Analysts at Wolfe Research expressed confidence that Intuit could achieve sustained double-digit revenue growth and margin expansion, particularly due to its initiatives in artificial intelligence.

Similarly, Barclays reiterated its Overweight rating, praising Intuit’s platform strategy and AI developments. The bank highlighted the insights provided during the Investor Day regarding the company’s strategy to elevate its average revenue per customer by introducing the Intuit Enterprise Suite.

Following the Investor Day, Barclays analysts reflected a more positive stance on Intuit, noting that the event clarified the company’s long-term growth objectives.

Bank of America shared a similar outlook, maintaining a Buy rating with a price target of $780. The bank emphasized the significance of new accounting and tax offerings in facilitating the company’s upward movement in the market, predicting robust growth in average selling prices.

BofA analysts remarked that several trends indicate that steady margin expansion is likely to continue and expressed confidence in Intuit’s capacity for long-term growth.

In contrast, Morgan Stanley adopted a more cautious approach, keeping an Equal-weight rating. While the bank recognized Intuit’s strong position for future growth, it raised concerns about near-term earnings per share performance due to increased investments. Morgan Stanley analysts noted that the higher investment levels could limit potential near-term earnings upside and that the current premium valuation accounts for Intuit’s favorable positioning.

Wells Fargo also maintained an optimistic outlook, holding an Overweight rating. The firm emphasized the strategic shift to move QuickBooks upmarket and the overall platform vision as key insights from the Analyst Day.