Analysts Cut Intuit Targets to $500-$649 Despite $4.65B Q2 Revenue and AI Growth
Mizuho, Goldman Sachs, Citi and Truist cut Intuit’s price targets to $600, $519, $649 and $500 respectively following its fiscal Q2 report, though all maintained buy or outperform ratings. The company posted $4.65B revenue, beat operating income estimates, and saw QuickBooks Live growth of 50% and 80% TurboTax AI adoption.
1. Analyst Price Target Cuts
Mizuho cut its price target on Intuit to $600 from $675 and kept an Outperform rating, while Goldman Sachs lowered its target to $519 from $720 with a Neutral stance. Citi trimmed its target to $649 from $803 and Truist reduced its target to $500 from $739, sustaining Buy ratings.
2. Q2 Financial Performance
Intuit reported fiscal Q2 revenue of $4.65 billion and delivered adjusted operating income above consensus estimates, reflecting strength in both its Small Business & Self-Employed and Consumer segments.
3. AI and Product Traction
Management highlighted robust AI adoption with QuickBooks Live customers growing 50% year-over-year and 80% of TurboTax users leveraging AI-powered data entry so far this tax season, signaling strong demand for its AI-enabled offerings.