Mizuho Securities analyst Siti Panigrahi has reiterated their bullish stance on INTU stock, giving a Buy rating on February 27.
Siti Panigrahi has given his Buy rating due to a combination of factors that suggest a significant upside potential for Intuit’s stock. The sum-of-the-parts (SOTP) analysis conducted indicates a 25% potential increase in the share price, with an enterprise value of $221 billion and an implied share price of $767. Despite recent appreciation in the stock, it remains undervalued compared to its peak and trades near two-year lows, particularly reflecting only the value of its GBSG segment while underestimating the consumer business’s profitability.
Siti Panigrahi also notes the strong performance in the second fiscal quarter and the early momentum in TurboTax units and average revenue per return growth, which could lead to an upward revision of Intuit’s fiscal year 2025 guidance. Additionally, the increase in TurboTax promotional prices aligns with regular tax season trends, further supporting the positive outlook. Consequently, the price target has been raised to $765, reinforcing the Buy rating.
According to TipRanks, Panigrahi is a 2-star analyst with an average return of -0.3% and a 46.59% success rate. Panigrahi covers the Technology sector, focusing on stocks such as Intuit, Paycom, and Workday.
In another report released on February 27, Barclays also maintained a Buy rating on the stock with a $775.00 price target.