Bank of America Securities analyst Bradley Sills reiterated a Buy rating on Intuit (INTU – Research Report) yesterday and set a price target of $875.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Bradley Sills has given his Buy rating due to a combination of factors that highlight Intuit’s strong performance and growth potential. The company has shown impressive results in its tax segment, particularly with TurboTax Live, which experienced significant growth beyond its long-term targets. This growth is attributed to increased penetration and higher average selling prices, indicating a successful pivot towards assisted tax services.
Additionally, Intuit’s QuickBooks business has demonstrated resilience, outperforming expectations despite challenges in the small and medium-sized business environment. The company’s Credit Karma segment also exceeded revenue guidance, driven by strong credit card and personal loan volumes. These factors, coupled with improved margins and efficiency gains through AI, support a durable high teens free cash flow growth, justifying the raised price objective and Buy rating.
Sills covers the Technology sector, focusing on stocks such as Microsoft, Salesforce, and Workday. According to TipRanks, Sills has an average return of 3.2% and a 50.25% success rate on recommended stocks.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $850.00 price target.
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue