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On Tuesday, Mizuho (NYSE:MFG) Securities reiterated its Outperform rating on Intuit stock (NASDAQ:INTU), maintaining a price target of $825. According to InvestingPro data, Intuit, with its substantial $208 billion market capitalization, is currently trading near its 52-week high. The company, known for its financial software like QuickBooks, TurboTax, and Mint, announced that starting July 1, it would implement pricing changes for its QuickBooks product for fiscal year 2026, with increases that are significantly higher than historical trends.
The firm’s analysts believe that these pricing changes underscore Intuit’s capacity to achieve the higher end of its Global Solutions Group revenue growth target, which ranges from 15% to 20%. Mizuho also anticipates that Intuit will soon introduce standalone artificial intelligence (AI) agent stock-keeping units (SKUs), which are expected to offer more opportunities for monetization and cross-selling within Intuit’s existing customer base.
This strategy aligns with Intuit’s recent financial performance, as the company reported strong results for the third fiscal quarter and increased its full-year guidance. According to Mizuho, these positive developments are likely to bolster investor confidence in the company’s ability to maintain sustained growth across its three business verticals.
Mizuho’s analysis comes on the heels of Intuit’s pricing announcement, which is seen as a strategic move to capitalize on the company’s strong market position and to leverage new AI technologies for additional revenue streams. The price target of $825 reflects Mizuho’s confidence in Intuit’s growth trajectory and its potential to outperform in the market.
In other recent news, Intuit has reported strong financial results for its third quarter, exceeding analysts’ expectations. The company announced a revenue growth of $7.8 billion, a 15% increase year-over-year, surpassing the anticipated $7.56 billion. Earnings per share (EPS) also beat forecasts, coming in at $11.65 compared to the expected $10.93. Credit Karma, a part of Intuit, significantly outperformed projections with revenues hitting $579 million, a 31% increase over the expected $464 million. Following these robust results, Intuit has updated its full-year guidance, now expecting mid-point revenue of $18.74 billion, up from the previous forecast of $18.25 billion.
Several financial firms have responded positively to Intuit’s performance, raising their stock price targets. Evercore ISI increased its target to $785, Stifel raised it to $850, and KeyBanc Capital Markets also adjusted its target to $850, maintaining an Overweight rating. Piper Sandler raised its target to $825, citing the company’s strong AI-driven results. Analysts have highlighted the exceptional growth in Intuit’s TurboTax Live service and the promising developments in its Global Business Services division.
Despite some operational challenges with Mailchimp, Intuit’s online services continue to perform well, driven by platforms like Money and Payroll services. The company’s strategic moves into the upmarket sector and the introduction of new offerings within QuickBooks are expected to enhance customer retention and revenue per user. Overall, analysts express confidence in Intuit’s trajectory, emphasizing its strong market share gains and the potential of its AI and automation technologies.
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