BMO Capital analyst Daniel Jester lowered the firm’s price target on Intuit (INTU) to $412 from $550 and keeps an Outperform rating on the shares. The company’s Q3 results were challenging, punctuated by weaker performance in TurboTax, the analyst tells investors in a research note. Though its higher-end “Live” results were better than expected, consistent with BMO’s intra-season perspectives, DIY missed expectations, reflecting the smaller market size this year and poor performance for TurboTax among price-sensitive consumers where management suggests meaningful strategic changes are needed, the firm added.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INTU:
- Intuit price target lowered to $410 from $500 at Truist
- Video: Nvidia earnings fail to ignite further gains in AI trade
- Morning Movers: Deere and Walmart fall following quarterly results
- Intuit price target lowered to $500 from $600 at RBC Capital
- Intuit price target lowered to $400 from $540 at Evercore ISI