Citi analyst Steve Enders has maintained their bullish stance on INTU stock, giving a Buy rating yesterday.
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Steve Enders has given his Buy rating due to a combination of factors including positive indicators for a recovering small and medium business (SMB) environment and a robust beginning to the 2025 tax season. The analysis of web traffic for Intuit’s core products, such as QuickBooks Online (QBO) and TurboTax (TT), points to stabilization and growth, supporting this perspective. Additionally, there is a continued recovery in Credit Karma (CK), although Mint (MC) shows relative caution due to softer traffic.
The anticipation of a favorable outcome for Intuit is bolstered by the expectation of modest growth in traffic and benefits from the timing of the tax season. While there are concerns regarding the IRS direct-file program, its current impact appears limited. These factors collectively contribute to the positive outlook for Intuit’s business performance and justify the Buy rating.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $775.00 price target.
Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INTU in relation to earlier this year.