Intuit Beats Expectations, Oppenheimer Raises Price Target (INTU)

Intuit INTU beat expectations with its F4Q10 results. EPS came in at ($0.05) versus consensus of ($0.10). Revenue $537 million exceeded expectations of $500 million. Intuit is a provider of business and financial management solutions. Oppenheimer said, "TurboTax, and INTU's other core category Small Business, both outperformed in FY10 and look promising heading into FY11. Deftly managing its marketing/pricing across its core offerings, INTU continues to deliver strong organic revenue growth, margin expansion, and mid-teens EPS growth year in/year out." Oppenheimer raised its price target for Intuit from $39 to $45. An Outperform rating was reiterated. Shares of Intuit are up 10% today to $42.65.