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MOUNTAIN VIEW, Calif. - Intuit Inc. (NASDAQ:INTU), a $213 billion market cap software giant with an impressive 80% gross profit margin, announced significant updates to its Enterprise Suite on Tuesday, adding new AI-powered capabilities designed for mid-market businesses. According to InvestingPro data, the company maintains a "GREAT" financial health score, positioning it well for continued innovation in the enterprise market.
The updated platform introduces AI agents that automate financial, accounting, and payment tasks, along with enhanced multi-entity financial management tools and business intelligence features. According to the company, these improvements aim to streamline operations for growing businesses with complex needs. This expansion aligns with Intuit’s strong performance, as evidenced by its 15% revenue growth over the last twelve months.
The new AI agents include a Finance Agent for reporting and forecasting, an Accounting Agent for bookkeeping automation, a Project Management Agent for project optimization, and a Payments Agent that the company claims helps businesses get paid an average of five days faster.
Intuit has also expanded the platform’s multi-entity capabilities with consolidated reporting features, a multi-entity hub for viewing intercompany transactions, and standardized chart of accounts across entities.
"Mid-market companies are turning to Intuit Enterprise Suite to reduce the cost and complexity of growing their business," said Ashley Still, executive vice president of Intuit Mid-Market, in the press release.
First introduced in September 2024, Intuit Enterprise Suite combines ERP-level financial management with business intelligence, payments, project management, payroll, HR, and marketing functions in a single cloud-based platform.
The company reported that 78% of customers say Intuit’s AI makes it easier to run their business, while 68% state it allows them to spend more time on growth activities, according to a survey of QuickBooks Online customers using Intuit Assist as of November 2024.
The updated Enterprise Suite is available now in the United States with contract-based pricing tailored to individual business needs.
In other recent news, Intuit has seen several notable developments. BMO Capital has increased its price target for Intuit to $870, citing potential benefits from the One Big Beautiful Bill Act for the company’s TurboTax business in the upcoming fiscal year. Meanwhile, Mizuho has maintained its Outperform rating and a price target of $875, despite Intuit’s plans to reduce its workforce by approximately 600 employees in California. This reduction is expected to enhance operating margins by 60-70 basis points in Mizuho’s fiscal year 2026 forecast.
Additionally, Intuit has officially launched new AI agents across its product lineup, prompting Mizuho to reaffirm its Outperform rating and $875 price target. In a strategic move to enhance B2B engagement, Intuit has acquired Relevvo, an AI-powered sales and marketing platform, although the financial terms of the deal remain undisclosed. Furthermore, CLSA has initiated coverage of Intuit with an Outperform rating and a $900 price target, highlighting the company’s potential to dominate the mid-market accounting software sector in the U.S. These developments reflect Intuit’s ongoing efforts to strengthen its market position and leverage technological advancements.
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