Wedbush Securities Sees Strong Volume Growth Driving Q2 Beat for Intuit Inc.

In a report published Friday, Wedbush Securities analyst Gil Luria reiterated a Neutral rating and $92.00 price target on

. In the report, Wedbush Securities noted, "We see Intuit as a cycle-independent technology leader in early stages of global expansion. Strong volume growth in Tax and Small Business drive Q2 beat. Revenue of $808 million was up 3% and beat consensus of $786 million while non-GAAP EPS of $(0.06) beat consensus of $(0.13). Online Ecosystem revenue grew 26% driven by strong subscriber growth both in the US and International. Desktop ecosystem declined (10)% on the continued revenue recognition shift." Intuit Inc. closed on Thursday at $91.11.