Intuit (INTU) PT Lowered to $375 at Stifel

Stifel analyst Brad Reback lowered the price target on Intuit (NASDAQ: INTU) to $375.00 (from $500.00) while maintaining a Buy rating.

The analyst comments "Intuit shares traded off ~13% AHs as 3Q's 7% TurboTax results fell far short of >10% buyside expectations that we highlight were driven by management's very positive commentary over the course of the quarter. Additionally, growth rates across most of GBS decelerated Q/Q and management was unwilling to specially endorse its 15-20% long-term guidance range in response to a CC question, and GMs fell short. Management attributed the TT weakness to low-end filers and indicated it will look to alter its monetize engine (product, pricing & platform). Given the uncertainty around these changes we would not be surprised to see FY27 Tax guide in the 5-7% range. With Intuit trading at ~13x EV/FCF (SBC-cash-expense) the stock likely settles into a trading range, but a rebound will take time as investors contemplate the future growth rate. We stick given the platform quality, but lower our TP to $375 (15x CY27 EV/FCF)."

You May Also Be Interested In

• Natera (NTRA) PT Raised to $270 at BTIG
• Trump on Iran: we're trying to work out a deal that's fair
• ACM Research, Inc. (ACMR) PT Raised to $130 at Morgan Stanley