BofA Securities Analyst Sees Intuit Rebound Despite Layoffs, DIY Tax Weakness, AI Pressure

Intuit Inc. (NASDAQ:INTU) recently reported third-quarter results, announced a 17% workforce reduction, and issued a weaker-than-expected outlook.

• What’s the outlook for INTU shares?

Q3 Results Beat Estimates

Intuit reported third-quarter revenue of $8.56 billion, topping estimates of $8.53 billion. Adjusted earnings came in at $12.80 per share, above the $12.28 per-share estimate.

Intuit expects full-year revenue of $21.34 billion to $21.37 billion, above estimates of $21.23 billion. Also, it raised adjusted EPS guidance to $23.80-$23.85 from $22.98-$23.18, versus estimates of $23.20.

Analyst’s View

BofA Securities analyst Tal Liani reinstated coverage on Intuit with a Buy rating and a $400 price target.

After a 55% decline over the past year and a further ~20% drop post recent results, the analyst sees an attractive ...

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BofA Securities Analyst Sees Intuit Rebound Despite Layoffs, DIY Tax Weakness, AI Pressure

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