JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
On Friday, RBC Capital analysts increased the price target for Intuit (NASDAQ:INTU) to $850, up from the previous $760, while retaining an Outperform stock rating. According to InvestingPro data, 20 analysts have recently revised their earnings estimates upward, with targets ranging from $560 to $875. The revision followed Intuit’s announcement of robust quarterly results, buoyed by a strong tax season, which saw the company’s shares climb 8% in after-hours trading.
The company’s financial performance for the third fiscal quarter of 2025 outpaced market expectations, largely due to the lower-quality revenue from its Credit Karma segment. Despite this, Intuit’s profitability exceeded consensus predictions, with impressive gross profit margins of 80.26% and trailing twelve-month revenue of $18.18 billion. Following these results, Intuit has upgraded its revenue and earnings per share (EPS) guidance for the fiscal year 2025, with projections for the fourth fiscal quarter also surpassing analyst forecasts.
Intuit reported revenue of $7.754 billion, marking a 15% increase year-over-year, which was higher than the consensus estimate of $7.568 billion. Non-GAAP earnings per share were $11.65, compared to the consensus estimate of $10.93. The positive figures and raised guidance have contributed to the improved sentiment from RBC Capital regarding Intuit’s stock.
The analyst from RBC Capital highlighted the company’s strong tax season and the momentum in its Global Business Solutions (GBS) as key factors in the solid quarter. The raised price target to $850 from the previous $760 reflects confidence in Intuit’s continued performance and market position.
Intuit’s after-hours stock price movement, with an 8% increase, underscores the market’s positive reception to the company’s quarterly results and the updated guidance for the remainder of the fiscal year. The updated price target and rating from RBC Capital provide a clear indication of the firm’s optimistic outlook on Intuit’s financial trajectory. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with an overall financial health score of "GREAT." For detailed insights and 18 additional ProTips about Intuit, including comprehensive valuation metrics and growth indicators, check out the Pro Research Report available on InvestingPro.
In other recent news, Intuit Inc. reported impressive financial results for the third quarter of fiscal 2025, exceeding both earnings and revenue expectations. The company achieved a non-GAAP earnings per share of $11.65, surpassing the forecasted $10.9, while revenue reached $7.8 billion, above the expected $7.56 billion. Intuit’s revenue increased by 15% year-over-year, and non-GAAP EPS grew by 18%, driven by AI-driven innovations and product expansions. Jefferies analyst Brent Thill raised the price target for Intuit stock to $850 from $735, maintaining a Buy rating due to Intuit’s strong performance and promising outlook. Intuit also raised its fiscal year 2025 guidance, projecting a 15% revenue growth, up from the previous estimate of 12-13%. Credit Karma, a part of Intuit’s portfolio, showed robust growth with a 31% revenue increase, contributing to the overall positive performance. The company’s strategic focus on AI and expanding its customer base played a significant role in these results. Looking ahead, Intuit plans to introduce new products featuring advanced AI, which are expected to command higher prices.
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