William Blair analyst Arjun Bhatia has reiterated their bullish stance on INTU stock, giving a Buy rating today.
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Arjun Bhatia has given his Buy rating due to a combination of factors that highlight Intuit’s promising future growth prospects. The company has set an ambitious target to accelerate its revenue growth to 20% by 2030, a significant leap from its already impressive 16% growth on a $19 billion revenue scale. This aspiration is supported by three primary growth drivers: advancements in AI, the disruptive potential of TurboTax Live in the assisted tax market, and success in the midmarket segment.
These initiatives were emphasized during Intuit’s investor day, leaving Bhatia more confident in the company’s long-term strategy and its ability to sustain revenue growth. The early indicators of success in these areas are promising, and Bhatia expects further progress in the coming years. With Intuit’s substantial total addressable market of $327 billion, the company is well-positioned to continue its double-digit revenue growth while enhancing operational efficiency. Consequently, Bhatia recommends Intuit’s shares for long-term investors.
According to TipRanks, Bhatia is a 3-star analyst with an average return of 3.0% and a 47.65% success rate. Bhatia covers the Technology sector, focusing on stocks such as Atlassian, Sprout Social, and Similarweb.
In another report released today, Barclays also maintained a Buy rating on the stock with a $785.00 price target.