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LOS ANGELES - Financial technology company Intuit Inc. (NASDAQ:INTU) has signed on as a Founding Partner of the 2028 Olympic and Paralympic Games in Los Angeles, becoming one of the first companies to retain naming rights for an Olympic venue, according to a press release statement. Investors looking to understand how this partnership might impact Intuit’s financial outlook can access comprehensive analysis through InvestingPro, which offers detailed financial metrics and expert insights on tech companies like Intuit. The platform’s Pro Research Reports provide clear, actionable intelligence on over 1,400 US equities, including INTU.
The Intuit Dome, home of the LA Clippers, will host the five-on-five men’s and women’s basketball competitions during the LA28 Olympic Games. This marks the first time in Olympic history that Games venues have been permitted to maintain their commercial venue names.
As part of the multi-year domestic partnership with Team USA and LA28, Intuit will create a Small Business Supplier Program to provide local businesses with resources and opportunities to become suppliers for the Games.
The company will also offer free tax preparation with TurboTax to select Team USA athletes and expand its financial education program for students in the Los Angeles community.
"Intuit’s investment in small business growth reflects the values we share: innovation, accessibility, and community," said Casey Wasserman, LA28 Chairperson and President.
The LA28 Games will be the third Olympic Games hosted by Los Angeles, following the 1932 and 1984 Olympics, and the city’s first Paralympic Games. The event will feature more women athletes than men for the first time in Olympic history and will not require construction of any new permanent infrastructure.
Intuit, which makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, has maintained a 23-year partnership with the LA Clippers. Additional details about the partnership will be announced in 2026.
In other recent news, Intuit reported its fiscal first-quarter results, showcasing a total revenue of $3.9 billion, marking an 18% year-over-year growth and surpassing the high end of guidance by approximately 3%. Analysts have reacted to these results with varying perspectives. Wells Fargo lowered its price target to $840, maintaining an Overweight rating, citing a mixed outlook. Stifel reiterated a Buy rating with an $800 price target, highlighting stronger-than-expected results, particularly from Credit Karma and the QuickBooks Online segment. Evercore ISI maintained an Outperform rating with a price target of $875, noting Intuit’s robust performance and growth in QuickBooks Online Advanced and IES products. Similarly, RBC Capital reiterated its Outperform rating with an $850 price target, emphasizing solid revenue growth across business segments. BMO Capital, however, adjusted its price target to $810 while maintaining a Market Perform rating, acknowledging the company’s strong start to fiscal year 2026.
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