Intuit, the maker of TurboTax, saw its
stock fall as the IRS made direct tax filing permanent. Despite Intuit's Q3 2024 earnings outperforming predictions, it did not prevent
Insider Sale with both the CFO and EVP of Consumer Group selling shares. Nevertheless, the Intuit
stock was still regarded strongly, with a Jefferies analyst even setting a street-high price target for the company following a strong Q3 performance.
EPS (Earnings Per Share) is forecasted to be sustained in the high-teens range, despite concerns over a possible loss of 1 million free TurboTax users. Recently, Intuit cut 715 jobs to focus on an
AI-based business model. The company also launched new initiatives, like an AI-powered assistant as well as a program aiming to help 50 million students. Despite
Q4 earnings guidance being lower than expected, causing a dip in Intuit's stock, investors are still bullish due to its strong financial prospects, particularly recurring revenues and its focus on margin expansion.
Intuit INTU News Analytics from Tue, 28 Nov 2023 08:00:00 GMT to Thu, 30 May 2024 20:11:04 GMT -
Rating 6
- Innovation 5
- Information 7
- Rumor -4
