Key Stats for Intuit Stock
- Pre-market Price Change for Intuit stock: 3.5%
- $INTU Share Price as of Nov. 20: $637
- 52-Week High: $814
- $INTU Stock Price Target: $807
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What Happened?
Intuit (INTU) stock surged nearly 4% in pre-market after the financial software giant crushed Wall Street expectations in its first-quarter earnings report.
The company posted adjusted earnings of $3.34 per share, beating analyst estimates of $3.09 by a solid margin. Revenue reached $3.89 billion, topping the $3.76 billion consensus forecast.
The strong performance was driven by exceptional momentum across Intuit’s platform. Total revenue grew 18% year-over-year, with the Global Business Solutions Group (which includes QuickBooks) growing at the same pace. Credit Karma revenue jumped 27%, while TurboTax revenue increased 6%.
CEO Sasan Goodarzi highlighted the impact of the company’s AI-driven platform strategy during the earnings call.
He noted that 2.8 million customers are now using Intuit’s AI agents to automate tasks like accounting and payments.
The accounting agent alone is saving customers up to 12 hours per month, while the payments agent helps businesses get paid an average of 5 days faster.
The mid-market segment continues to show strong traction. Revenue from QuickBooks Online Advanced and Intuit Enterprise Suite grew roughly 40% in the quarter.
The company also announced several major partnerships with top accounting firms to expand its enterprise footprint.
Another catalyst for Intuit stock was the announcement of a game-changing partnership with OpenAI.
Intuit apps will be deeply integrated into ChatGPT, giving the company access to 800 million weekly active users.
Goodarzi emphasized that Intuit will maintain full control over customer data and economics, with no revenue sharing involved.
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What the Market Is Telling Us About Intuit Stock
The market’s enthusiastic response signals strong confidence in Intuit’s AI strategy and growth trajectory.
The company reaffirmed its full-year guidance, projecting revenue growth of 12% to 13% and earnings per share growth of 14% to 15%.
Investors seem excited about three things:
- The rapid adoption of AI agents across the platform
- The acceleration in the mid-market segment
- The OpenAI partnership that could dramatically expand Intuit’s customer acquisition channels
With TurboTax heading into tax season and Credit Karma continuing to gain market share in personal loans and credit cards, Intuit stock looks well-positioned for continued momentum.
Management’s decision to expand TurboTax’s physical presence to 600 locations, including a flagship store in New York City, shows confidence in its ability to capture a larger share of the assisted tax preparation market.
The combination of strong execution, meaningful AI innovation, and strategic partnerships suggests Intuit stock could maintain its upward trajectory as the company delivers on its vision to become “the system of intelligence” for consumers and businesses alike.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
