Mizuho Securities analyst Siti Panigrahi has maintained their bullish stance on INTU stock, giving a Buy rating yesterday.
Siti Panigrahi has given his Buy rating due to a combination of factors that reflect Intuit’s potential for growth and improvement in the current tax season. The early 2025 tax season data, despite a slow start, shows signs of recovery with improvements in both assisted and self-prepared tax filings. This positive trend is crucial for Intuit, particularly with the penetration of their Assisted category through TT Live Full Service, which is expected to be a key driver in the fiscal year 2025.
Siti Panigrahi also notes that while the tax season started slower than usual, the recent improvements in filing data are encouraging. The shift in filing patterns, with more returns being filed later in the season, suggests potential upside for Intuit as the season progresses. These factors contribute to the optimistic outlook for Intuit’s performance, justifying the Buy rating.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $800.00 price target.