Intuit Launches AI ERP for $2T Construction Market; Price Target Cut to $624
On February 11, Intuit launched a new AI-driven Enterprise Suite construction edition targeting the $2 trillion construction market with budget tracking, cost planning and AIA invoicing. BMO Capital cut Intuit’s price target to $624 from $810 and TurboTax added an AI-enabled done-for-you filing with Uber rides ahead of next week’s earnings.
1. AI-Driven ERP for Construction Market
Intuit rolled out a construction edition of its Enterprise Suite on February 11, offering an AI-powered ERP tailored to mid-market builders. The solution integrates budget tracking, cost group planning, project management tools and AIA-style invoicing to address the $2 trillion industry’s complexity and profitability challenges.
2. Price Target Cut by BMO Capital
BMO Capital trimmed its price target on Intuit to $624 from $810 while retaining an Outperform rating. The firm cited instability in the online segment excluding ‘Live’ features as a key headwind to near-term growth.
3. TurboTax Done-For-You Filing with Uber Rides
TurboTax debuted a fully managed filing service that pairs AI automation with human expertise and includes complimentary Uber rides for appointments. The offering aims to simplify tax preparation and enhance user acquisition during the filing season.
4. Upcoming Earnings Expectations
Investors are gearing up for next week’s earnings report, with analysts forecasting year-over-year revenue and earnings growth. Market watchers will assess whether Intuit’s recent product launches translate into stronger-than-expected financial results.