Intuit's Multi-Year Strategy Supports Growth Outlook, Oppenheimer Says

MT Newswires Live10-26 23:21

Intuit (INTU) effectively communicated its updated multi-year strategy during recent investor meetings, reinforcing confidence in its ability to deliver high-single-digit-plus organic revenue growth and high-teens-plus adjusted earnings growth, Oppenheimer said in a Monday note.

Management's Big Bet initiatives accounted for 30% of fiscal 2026 revenue, with TurboTax Live growing 37% year over year. Oppenheimer expects the proposed $99 Sign & File offering to drive customer growth and migration to full-service tax filing.

Oppenheimer forecasts Intuit's fiscal Q1 2027 revenue of $4.304 billion, up 11% year over year, and adjusted earnings per share of $2.46, up 31%. For fiscal 2027, it expects revenue of $23.396 billion and adjusted EPS of $23.00, up 9% and 23%, respectively, broadly in line with company guidance.

The brokerage said Intuit's valuation has become more attractive following its 2026 stock decline amid concerns about AI-driven disruption, while growth initiatives and go-to-market improvements could support its long-term outlook.

Oppenheimer maintained its outperform rating on the stock and raised its price target to $406 from $380.

Price: 337.42, Change: -5.97, Percent Change: -1.74

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