Intuit Analysts Raise Their Forecasts After Earnings Beat

Intuit Inc INTU reported better-than-expected earnings for its fiscal first quarter on Tuesday.

Intuit said first-quarter revenue increased 15% year-over-year to $2.978 billion, which beat the consensus estimate of $2.878 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of $2.47 per share, which beat analyst estimates of $1.98 per share.

Intuit reiterated full-year 2024 revenue guidance of $15.89 billion to $16.105. The company also reiterated full-year adjusted earnings expectations of $16.17 to $16.47 per share.

Intuit shares gained 0.6% to $568.65 in pre-market trading.

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These analysts made changes to their price targets on Intuit following earnings announcement.

• Barclays increased the price target on Intuit from $570 to $660. Barclays analyst Raimo Lenschow maintained an Overweight rating.
• Wells Fargo boosted the price target on Intuit from $575 to $615. Wells Fargo analyst Michael Turrin maintained an Overweight rating.
• Citigroup raised the price target on Intuit from $565 to $651. Citigroup analyst Steven Enders maintained a Buy rating.

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