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Investing.com - Evercore ISI raised its price target on Intuit (NASDAQ:INTU) to $875.00 from $785.00 on Tuesday, while maintaining an Outperform rating on the financial software company’s stock. The stock, currently trading at $798.73 and near its 52-week high of $800.50, has shown impressive momentum with a 35% return over the past six months.
The price target increase follows Intuit’s recent rollout of agentic capabilities across its QuickBooks portfolio, which Evercore ISI described as a significant advancement in enterprise-grade AI for small businesses.
Evercore ISI noted that while adoption will likely occur gradually, the initiative creates potential for a multiyear tailwind in Average Revenue Per Customer (ARPC), supported by Intuit’s tiered pricing model and customer migration to premium subscription levels.
The firm highlighted that the new AI agents are only available starting with the Essentials bundle, creating a built-in monetization lever. The expanding enterprise customer base and new agents targeting specific vertical pain points in areas like payroll and marketing could drive further growth.
The new $875 price target is based on approximately 36 times Intuit’s calendar year 2026 earnings per share, according to Evercore ISI’s analysis.
In other recent news, Intuit Inc. has announced significant updates to its Enterprise Suite, introducing AI-powered capabilities aimed at automating financial, accounting, and payment tasks for mid-market businesses. These enhancements include multi-entity financial management tools and business intelligence features designed to streamline operations for growing businesses. Additionally, Intuit launched a new App Partner Program for the QuickBooks ecosystem, offering four partnership tiers and new APIs to support developers building applications for QuickBooks and Intuit Enterprise Suite.
BMO Capital has raised its price target for Intuit to $870, maintaining an Outperform rating, citing potential positive implications from the One Big Beautiful Bill Act for Intuit’s TurboTax business. Mizuho (NYSE:MFG) also reiterated its Outperform rating with a $875 price target, noting Intuit’s recent launch of AI agents and the company’s plans to reduce its workforce by approximately 600 employees in California. This workforce reduction could potentially enhance operating margins, according to Mizuho’s fiscal year 2026 forecast. These developments highlight Intuit’s ongoing efforts to innovate and optimize its operations.
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