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.
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Steve Enders has given his Buy rating due to a combination of factors related to Intuit’s performance in the tax filing sector. The latest IRS data shows a positive trend in professional e-filings, which are slightly up compared to the previous year. This indicates a shift towards professional services, where Intuit’s products like TurboTax are well-positioned to benefit.
Furthermore, the overall tax filing volumes are expected to match or slightly exceed last year’s numbers, suggesting a stable market environment. The expected share price return of 23.7% further supports the Buy rating, reflecting confidence in Intuit’s ability to capitalize on these trends and deliver strong financial performance.
Enders covers the Technology sector, focusing on stocks such as Intuit, Workiva, and Workday. According to TipRanks, Enders has an average return of -3.5% and a 45.07% success rate on recommended stocks.
In another report released on April 11, Oppenheimer also reiterated a Buy rating on the stock with a $642.00 price target.
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