Analysts anticipate Intuit will exceed Q3 expectations, citing recent stock weakness and strong revenue guidance.
TD Cowen reaffirmed its Buy rating on Intuit (NASDAQ:INTU) while lowering its price target to $576 from $633. The firm expects a favorable Q3 performance, forecasting a beat-and-raise quarter for the company.
Intuit, which reports earnings on May 20, previously guided for full-year revenue of $20.997 billion to $21.186 billion, reflecting 12% to 13% growth. Management also projected Q3 revenue growth of 10%, with non-GAAP EPS between $12.45 and $12.51.
The firm highlighted Intuit’s 20.9% five-year average revenue growth and attractive valuation as key drivers for its outlook. Analysts remain confident in the company’s ability to meet its Global Business Solutions Group revenue targets.