Steve Enders, an analyst from Citi, maintained the Buy rating on Intuit (INTU – Research Report). The associated price target remains the same with $726.00.
Steve Enders has given his Buy rating due to a combination of factors that highlight Intuit’s potential for growth. One of the key reasons is the improving pace of tax filings, which indicates a robust close to the tax season. The IRS data shows a steady catch-up in filing activity compared to the previous year, suggesting that Intuit’s products, such as TurboTax, are maintaining their relevance and demand among users.
Additionally, the report notes that while overall tax filings are slightly down year-over-year, they are still ahead of historical averages, which is a positive indicator for Intuit’s performance. The consistent trend in e-filings and self-prepared e-filings, which are closely associated with Intuit’s offerings, further supports the expectation of a positive shift in year-over-year volumes. With an expected share price return of 19.1%, these factors collectively contribute to the Buy rating for Intuit’s stock.
According to TipRanks, Enders is an analyst with an average return of -1.1% and a 50.72% success rate. Enders covers the Technology sector, focusing on stocks such as Intuit, Workiva, and BlackLine.
In another report released on March 6, KeyBanc also maintained a Buy rating on the stock with a $770.00 price target.