Intuit stock rating reiterated at Outperform by Evercore ISI

Investing.com - Evercore ISI has reiterated an Outperform rating on Intuit (NASDAQ:INTU) with a price target of $875.00 following the company’s strong fiscal first quarter results. This target represents nearly 37% upside from the current price of $637.44, and exceeds even the analyst consensus high target of $971. According to InvestingPro data, Intuit is currently trading below its Fair Value, with analysts maintaining a strong "Buy" consensus.

The firm noted that Intuit delivered robust performance and maintained its fiscal year 2026 guidance as expected. Evercore highlighted several positive factors supporting its bullish outlook, including Intuit’s beneficial mix shift in its QuickBooks Online (QBO) base toward QBO Advanced and IES products, which grew over 40%. This product mix improvement leverages Intuit’s impressive gross profit margins of 80.73%, one of several favorable metrics identified in InvestingPro Tips.

Online Accounting revenue accelerated to 25% growth quarter-over-quarter, up from 23% previously. The firm also viewed Intuit’s OAI relationship as removing potential competitive concerns while opening new distribution channels, particularly for Credit Karma.

Evercore pointed out that Intuit’s agentic offerings are gaining traction with 2.8 million customers currently using these services, which the firm believes will drive average revenue per customer growth over time. Additionally, Intuit remains positioned to capture market share in the assisted tax segment with its fully built-out local expert network.

The firm maintained Intuit as a "top pick" heading into 2026, reaffirming both its Outperform rating and $875 price target.

In other recent news, Intuit Inc. reported stronger-than-expected earnings for the first quarter of fiscal year 2026. The company posted a non-GAAP earnings per share of $3.34, surpassing the anticipated $3.09, and generated $3.9 billion in revenue, exceeding the forecasted $3.76 billion. Intuit’s revenue growth was driven by an 18% increase across its business segments, with notable contributions from the Online Ecosystem and the small business and consumer divisions. Goldman Sachs reiterated its Buy rating on Intuit, citing the company’s strong performance and AI momentum, maintaining a price target of $860. RBC Capital also reiterated its Outperform rating with a price target of $850, highlighting the company’s robust start to fiscal year 2026. However, BMO Capital adjusted its price target to $810 from $870, while maintaining a Market Perform rating, acknowledging the company’s impressive results in its Credit Karma segment and QuickBooks Online ecosystem. Intuit exceeded consensus estimates across key metrics, with revenue outperforming expectations by 3%, Credit Karma by 12%, and notable improvements in operating and free cash flow margins. These developments underscore Intuit’s strong financial performance and strategic positioning in the market.

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