Stifel reiterates Buy rating on Intuit stock with $800 price target

Investing.com - Stifel maintained its Buy rating and $800.00 price target on Intuit (NASDAQ:INTU) stock following the company’s first-quarter earnings report, which exceeded expectations. This target represents significant upside potential compared to Intuit ’s current price of $637.44, with the analyst consensus also showing a strong Buy recommendation at 1.7.

Intuit delivered stronger-than-expected results, with Credit Karma contributing $70 million above forecasts due to healthy consumer loan and credit card activity. The company’s GBS (QuickBooks Online) segment also outperformed by $55 million, with Payments and Payroll remaining strong growth contributors despite economic moderation. InvestingPro data reveals Intuit’s impressive 80.73% gross profit margin, highlighting the company’s operational efficiency and pricing power.

The combined performance drove a revenue beat of approximately 400 basis points, sending Intuit shares up about 3.5% in after-hours trading. Following its typical pattern, the company modestly raised second-quarter expectations while maintaining its full-year guidance. Overall revenue growth stands at 17.14% over the last twelve months, according to InvestingPro data, which also indicates Intuit is currently trading slightly below its Fair Value.

Stifel noted that Intuit’s second half of the fiscal year "sets up well" as sustained TurboTax Live share gains should generate healthy upside within the tax business. The firm also expects GBS to maintain mid-to-upper teens growth despite less pricing momentum, supported by strong services usage and early progress in its upmarket transition.

With high-growth products representing a larger percentage of Intuit’s business mix and AI-driven solutions supporting the company’s ability to price for value, Stifel considers Intuit one of its "top large-cap picks."

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. Following these results, Goldman Sachs reiterated its Buy rating on Intuit, citing the company’s momentum in artificial intelligence, with a price target of $860. Evercore ISI also maintained an Outperform rating, highlighting a beneficial mix shift in Intuit’s QuickBooks Online base. RBC Capital echoed this sentiment, reiterating its Outperform rating and setting a price target of $850, noting an 18% revenue growth across business segments. Meanwhile, BMO Capital adjusted its price target to $810 from $870, maintaining a Market Perform rating. Intuit’s Credit Karma segment and QuickBooks Online ecosystem exceeded expectations, contributing to the company’s robust performance. These developments reflect Intuit’s strong start to fiscal year 2026, with positive feedback from multiple analyst firms.

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