Futures slip, bank earnings ahead, Powell to speak - what’s moving markets
Investing.com - KeyBanc Capital Markets has reiterated its Overweight rating and $825.00 price target on Intuit (NASDAQ:INTU), currently trading at $674.96, following the company’s annual investor day. According to InvestingPro data, analyst targets range from $600 to $971, with 13 analysts recently revising their earnings estimates upward.
The financial software provider outlined plans to accelerate revenue growth to 20% by 2030, supported by projected 40%+ growth in QuickBooks Online mid-market and TurboTax Live segments. The company has demonstrated strong execution with current revenue growth of 15.63% and impressive gross profit margins of 80.39%.
KeyBanc noted that management’s confidence in these growth drivers should be well received by investors, though the achievability of these targets will likely be debated in coming quarters.
The firm expressed a constructive view on Intuit’s growth prospects and characterized the company as an "underappreciated AI beneficiary" in its analysis.
Intuit hosted the investor event on Friday, showcasing artificial intelligence benefits and opportunities, along with progress updates on its QuickBooks Online mid-market and TurboTax Live initiatives.
In other recent news, Intuit has reaffirmed its financial guidance for the first quarter and full fiscal year 2026. The company expects full-year revenue to range between $20.997 billion and $21.186 billion, reflecting a growth rate of approximately 12% to 13%. Intuit has also maintained its non-GAAP earnings per share guidance of $22.98 to $23.18, projecting a 14% to 15% increase for the fiscal year. Several analyst firms have reiterated their positive outlooks on Intuit, with Stifel maintaining a Buy rating and a price target of $800, while BMO Capital and RBC Capital both reiterated their Outperform ratings with price targets of $870 and $850, respectively. Mizuho also maintained its Outperform rating with a price target of $875, highlighting the company’s goal to accelerate revenue growth to 20% by 2030. Intuit’s recent investor day presentations emphasized its AI strategy and mid-market growth potential. The company aims to capture market share among larger, higher-spending customers, with a focus on expanding its IES and QBOA offerings. These developments underscore Intuit’s commitment to long-term growth and market expansion.
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