$INTU

34 stories mentioning INTUUpdated 1d ago

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Research Alert: CFRA Downgrades Shares Of Intuit Inc. To A Hold From Buy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price to $347 from $462 on a P/E of 12.8x our FY 27 (Jul.) EPS view of $27.09, below its three-year average. We raise our FY 26 EPS estimate to $23.84 from $23.18 and our FY 27 EPS view to $27.09 from $26.40. INTU reported Q3 FY 26 total revenue growth of 10% to $8.6B, with Global Business Solutions (GBS) revenue rising 15% to $3.3B and Consumer revenue up 8% to $5.3B, pressured by underperformance in its TurboTax segment, which decelerated to 7% from 11% in Q3 FY 25. The company faced headwinds in the DIY TurboTax segment, losing share to lower-priced competitors among price-sensitive customers. That said, mid-market momentum in its GBS segment was strong, with QBO Advanced and Intuit Enterprise Suite growing 38%, reflecting successful monetization of higher-end markets, though we now see demand risks in this category from a more uncertain macro. INTU also announced a 17% workforce reduction to streamline its reporting operations, with cost savings supporting margin expansion.

$INTU

Wire70d ago

Intuit AI Opportunity Still Larger Than TurboTax Risks, RBC Says

Intuit (INTU) could face near-term pressure from softer TurboTax growth and AI concerns, but stronger AI use, growth in assisted tax services, and a leaner cost structure should support the company over time, RBC Capital Markets said in a note emailed Thursday.The investment firm said fiscal Q3 revenue, non-GAAP operating margin, and non-GAAP earnings per share came in above market estimates, with non-GAAP EPS at $12.80, as TurboTax was the main weak point, with revenue growth down to 7% and fiscal 2026 guidance for the business cut to about 7% from 8%.The lower TurboTax outlook could keep investor concerns alive that AI tools may reduce demand for tax software in the near term; however, TurboTax Live remains a positive area, with customers and revenue expected to grow strongly as users seek more help and faster refund access, according to the note.Intuit can still become a long-term AI winner, while growth in Credit Karma and ProTax and a 17% workforce reduction could help support future performance, RBC added.RBC kept its outperform rating for Intuit, but cut its price target to $500 from $600.Price: $307.37, Change: $-76.56, Percent Change: -19.94%

$INTU

Wire70d ago

Intuit Seen Facing Pressure From TurboTax Weakness Despite Fiscal Q3 Beat, Oppenheimer Says

Intuit (INTU) posted a fiscal Q3 beat and raised its fiscal 2026 guidance, but weaker TurboTax trends and a 17% workforce reduction are likely to weigh on the stock, Oppenheimer said in a note Thursday.The firm said consumer segment revenue beat expectations, helped by Credit Karma, while TurboTax fell short on a roughly 2 million decline in paper filers across the tax system and weaker DIY execution.Oppenheimer said Global Business Solutions was largely in line with expectations, with revenue up 15% and Online Ecosystem revenue up 19%.The company's 17% workforce reduction added to a mixed tone, analysts noted.Oppenheimer maintained its outperform rating on Intuit, while lowering its price target to $406 from $558.Intuit shares were nearly 20% lower in Thursday trading.Price: $308.03, Change: $-75.90, Percent Change: -19.77%

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Asia Markets70d ago

US Equity Futures Edge Lower Pre-Bell as Nvidia Stock Flat Despite Earnings Beat, Middle East Peace Talks Drag

US equity futures were edging lower pre-bell Thursday despite upbeat fiscal Q1 financial results posted by Nvidia (NVDA) and amid continued lack of solid progress in the Middle East peace talks.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 0.5% lower.In addition to surpassing analysts' expectations for fiscal Q1 adjusted earnings and revenue, Nvidia raised its quarterly dividend and announced an additional $80 billion share repurchase authorization. However, the company's stock was largely flat in premarket activity.President Donald Trump said the US was ready to resume attacks on Iran if its leadership did not agree to a peace deal, but that it could wait a few days. Iran's Supreme Leader has ordered the country's highly enriched uranium to not be sent abroad, which is one of the main US demands, according to a Reuters report citing two senior Iranian sources.Traders kept an eye on the latest round of earnings, with Walmart (WMT) posting higher fiscal Q1 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $106.80 per barrel and US West Texas Intermediate crude 2.4% higher at $100.62 per barrel.US initial jobless claims fell to a level of 209,000 in the employment survey week ended May 16 from an upwardly revised 212,000 level in the previous week, compared with expectations for a smaller decrease to 210,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET.April housing starts fell by 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg as of 7:30 am ET for a 1.410 million rate after an increase to a 1.507 million pace in March.The Philadelphia Federal Reserve's monthly manufacturing index fell to minus 0.4 in May after rising to 26.7 in April, compared with expectations for a smaller decrease to a reading of 17.8 in a survey compiled by Bloomberg.The May S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen coming in at 53.8.Richmond Federal Reserve President Thomas Barkin is scheduled to speak on Thursday.In other world markets, Japan's Nikkei closed 3.1% higher, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 2% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Shell (SHEL) stock was up 1.2% and BP (BP) shares rose 1% after the companies, along with Indonesia's PT Perusahaan Gas Negara, and PT PLN Energi Primer Indonesia, signed agreements with Japan's Inpex for liquified natural gas offtake from the Abadi LNG Project at the Masela Block in offshore Indonesia. Shares of IBM (IBM), GlobalFoundries (GFS), and D-Wave Quantum (QBTS) were up after the companies said they are included among the major quantum companies set to receive billions in proposed US government backing. IBM stock was up 5.8%, GlobalFoundries shares rose 13%, and D-Wave Quantum stock was 15% higher.On the losing side, Intuit (INTU) stock was 16% lower after RBC and Northcoast Research cut their price targets for the stock. Palantir Technologies (PLTR) shares were down 1.2% following an Axios report about the company challenging Pentagon's Defense Intelligence Agency over its ability to bid for a contract to modernize the agency's data analytics system.

Dow JonesNasdaq CompositeS&P 500$BP$GFS$IBM$INTU$NVDA$PLTR$QBTS$SHEL$WMT

US Markets70d ago

Stocks Down Pre-Bell as Traders Monitor US-Iran Developments, Parse Nvidia Earnings

US equity markets were trending lower before the opening bell Thursday as traders monitor the latest developments in the US-Iran conflict and digest tech bellwether Nvidia's (NVDA) quarterly earnings.The S&P 500 fell 0.4% and the Dow Jones Industrial Average slipped 0.3% in premarket activity, while the Nasdaq was down 0.5%. The indexes finished the previous trading session higher, with the Nasdaq and S&P 500 snapping a three-day losing streak.Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Thursday that Tehran is reviewing the latest US proposal to end the war in the Middle East, CNBC reported, citing state-run agency Nour News.President Donald Trump told reporters on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backs out, according to several media outlets. "We'll either have a deal or we're going to do some things that are a little bit nasty," Trump said, according to a Bloomberg News report. "But hopefully that won't happen."Earlier on Wednesday, Iran's Islamic Revolutionary Guard Corps reportedly said that it would retaliate beyond the Middle East if the US or Israel resumed their military attacks against the country.West Texas Intermediate crude oil slipped 0.2% to $98.01 a barrel before the open, while Brent decreased 0.6% to $104.42.Shares of Nvidia (NVDA) slipped 0.2% pre-bell after the chipmaking giant reported fiscal first-quarter revenue above Wall Street's estimates, as data center sales outperformed expectations amid an artificial intelligence boom. For the current quarter, Nvidia said it anticipates revenue of $91 billion, plus or minus 2%.Intuit's (INTU) stock dropped 14% after the financial technology platform reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%. Urban Outfitters (URBN) declined 1.4% after its financial results.Federal Reserve officials flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the central bank's April meeting showed on Wednesday.Meeting participants generally determined that elevated inflation, combined with uncertainty around the duration and impact of the Iran war, could justify holding rates for longer than previously anticipated. However, majority of Fed officials pointed out that "some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%."Treasury yields were rising before the open, with the two-year rate gaining 6.6 basis points to 4.1% and the 10-year rate adding 5.1 basis points to 4.62%.Thursday's economic calendar has the housing starts and permits report for April at 8:30 am ET, along with the weekly jobless claims bulletin and the Philadelphia Fed manufacturing index for May. The S&P Global's (SPGI) flash purchasing managers' index for May is out at 9:45 am, followed by the Kansas City Fed manufacturing index for the same month at 11 am.Richmond Fed President Thomas Barkin is scheduled to speak at 12:20 pm.Walmart (WMT), Deere (DE), NetEase (NTES), Williams-Sonoma (WSM), Ralph Lauren (RL), Nio (NIO) and Advance Auto Parts (AAP) report their latest financial results before the bell, among others. Ross Stores (ROST), Take-Two Interactive Software (TTWO), Workday (WDAY), Zoom Communications (ZM) and Deckers Outdoor (DECK) release their earnings after the markets close.Gold was down 0.4% at $4,519 per troy ounce, while bitcoin fell 0.3% to $77,255.

Dow JonesNasdaq CompositeS&P 500$AAP$DE$DECK$INTU$NIO$NTES$NVDA$RL$ROST$SPGI$TTWO$URBN$WDAY$WMT$WSM$ZM

US Markets70d ago

Intuit Raises Fiscal 2026 Outlook Following Third-Quarter Beat; Plans to Reduce Workforce by 17%

Intuit (INTU) lifted its full-year outlook and reported fiscal third-quarter results above Wall Street's expectations, while the financial technology platform disclosed plans to reduce its workforce by about 17%.The company anticipates adjusted earnings to be in a range of $23.80 to $23.85 per share for fiscal 2026, it said late Wednesday, up from its previous guidance of $22.98 to $23.18. The current consensus on FactSet is for non-GAAP EPS of $23.46.Revenue is pegged at $21.34 billion to $21.37 billion for the ongoing fiscal year, compared with prior projections of nearly $21 billion to $21.19 billion. The Street is looking for sales of $21.34 billion.In a regulatory filing with the Securities and Exchange Commission, Intuit said it plans to lay off around 17% of its employees, as part of a plan to simplify its organizational structure. The company expects to incur about $300 million to $340 million in charges related to the workforce reduction, mainly in its fourth quarter ending July 31."While these decisions are never easy, they are a reflection of our disciplined approach to capital management, and we are confident it will ultimately allow us to deliver durable revenue growth, expanded margins, and growing capital returns to shareholders over the long term," Chief Financial Officer Sandeep Aujla said during an earnings call, according to a FactSet transcript.Intuit's shares dropped 14% in Thursday's most recent premarket activity.For the ongoing three-month period, the firm expects adjusted EPS to come in between $3.56 and $3.62 on revenue growth of 11% to 12%. The market's forecast is for non-GAAP EPS of $3.30 and sales of $4.19 billion.For the quarter ended April, Intuit's adjusted EPS rose 10% to $12.80, surpassing the Street's view for $12.57. Revenue climbed to $8.56 billion from $7.75 billion in the prior-year period, topping the average analyst estimate of $8.54 billion.Revenue in the global business solutions segment advanced 15% to $3.3 billion, led by a 22% jump in QuickBooks online accounting sales that reflected pricing and customer growth, according to the company. Online services gained 15% while international online revenue moved 10% higher on a constant currency basis.The consumer platform recorded revenue growth of 8% to $5.3 billion. Credit Karma's revenue improved 15% to $631 million, boosted by personal loans, auto insurance and home loans. Revenue from tax-preparation software TurboTax increased 7% to $4.4 billion, while ProTax sales were flat."We delivered strong third-quarter results, driven by our (artificial intelligence)-driven expert platform strategy," Chief Executive Sasan Goodarzi said in a statement. "As we look ahead, we are further scaling our growth engines and architecting an organization that operates with greater velocity to deliver durable long-term growth."

$INTU

Research71d ago

Research Alert: Intu: Modest Q3 Beat As Turbotax Growth Decelerates; Outlook Mixed

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:INTU posted modest Q3 beats with non-GAAP EPS of $12.80 (+10% Y/Y), beating consensus by $0.23, while revenue of $8.558B (+10% Y/Y) exceeded Street expectations by $20M. Global Business Solutions maintained solid momentum with 15% growth to $3.3B, driven by QuickBooks Online Accounting (+22% Y/Y) from higher prices and customer growth, though Consumer segment decelerated to 8% growth as TurboTax revenue rose just 7% vs. 11% previously. We view the strong Online Ecosystem performance (+19% Y/Y to $2.5B) as encouraging for the core digital strategy. Management raised FY26 revenue guidance to $21.341-21.374B (13%-14% growth) and non-GAAP EPS to $23.80-23.85 (18% growth), though EPS came in below Street expectations. Operating margins compressed to 54.7% from 56.0% Y/Y, while the company announced a 17% workforce reduction to streamline operations. We expect TurboTax Live to reach $2.8B (+36% Y/Y), representing 53% of total TurboTax revenue, demonstrating continued strength in premium offerings.

$INTU

Wire71d ago

GUIDANCE: (INTU) Intuit Expects Fiscal 2026 Revenue Range $21.341B-$21.374B, vs. FactSet Est of $21.24B

$INTU

Sectors71d ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.1% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.7%.The Philadelphia Semiconductor index popped 4.1%.In corporate news, Microsoft-backed OpenAI (MSFT) is aiming for an initial public offering as soon as September that will value the company at more than $1 trillion, the Financial Times reported. Microsoft shares rose 1%.Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note. The brokerage maintained its buy rating on the Nvidia stock, with a $320 price objective, citing its "dominance in the fastest growing tech market and its compelling valuation." Nvidia shares rose 1.3%.Meta Platforms (META) CEO Mark Zuckerberg told employees the company does not expect further company-wide layoffs this year, Reuters reported, citing an internal memo. Meta on Wednesday cut 10% of its global workforce and reassigned 7,000 employees to AI-related initiatives as part of a broad restructuring, the report said. Meta shares added 0.2%.Intuit (INTU) is laying off about 17% of its global workforce, or roughly 3,000 employees, as part of a restructuring aimed at simplifying operations and sharpening focus on key priorities, including AI initiatives, Reuters reported. Intuit shares were down 3.6%.

$INTU$META$MSFT$NVDA

Wire71d ago

Sector Update: Tech Stocks Gain Wednesday Afternoon

Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4%.The Philadelphia Semiconductor index popped 3.6%.In corporate news, Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note. The brokerage maintained its buy rating on the Nvidia stock, with a $320 price objective, citing its "dominance in the fastest growing tech market and its compelling valuation." Nvidia shares rose 1.8%.Microsoft-backed (MSFT) OpenAI has been working with bankers in preparation of filing for an initial public offering in the coming days or weeks, The Wall Street Journal reported. Microsoft shares added 0.9%.Intuit (INTU) is laying off about 17% of its global workforce, or roughly 3,000 employees, as part of a restructuring aimed at simplifying operations and sharpening focus on key priorities, including AI initiatives, Reuters reported. Intuit shares were down 3.5%.

$INTU$MSFT$NVDA

Wire71d ago

Market Chatter: Intuit to Cut 17% of Workforce in AI-Focused Restructuring

Intuit (INTU) is laying off about 17% of its global workforce, or roughly 3,000 employees, as part of a restructuring aimed at simplifying operations and sharpening focus on key priorities, including AI initiatives, Reuters reported Wednesday, citing an internal memo.The company also plans to close its Reno and Woodland Hills offices as part of efforts to consolidate teams into key hubs, according to the news outlet.Intuit said affected US employees will receive severance packages that include 16 weeks of base pay plus an additional two weeks for every year worked at the company, the report added.Shares of Intuit were down nearly 3% in Wednesday trading.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $388.47, Change: $-11.25, Percent Change: -2.81%

$INTU

US Markets71d ago

Stocks Gain Pre-Bell Ahead of Nvidia Earnings, Fed Meeting Minutes

The main US stock measures were pointing higher in Wednesday's premarket activity as traders await tech bellwether Nvidia's (NVDA) latest financial results and minutes of the Federal Reserve's last policy meeting.The S&P 500 rose 0.4%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.7% before the opening bell. The indexes finished Tuesday trading lower, with the Nasdaq and S&P 500 recording losses for a third consecutive session.Shares of Nvidia increased 1.8% pre-bell, with the chipmaker scheduled to report its fiscal first-quarter results after the markets close. The current consensus on FactSet is for the company to report non-GAAP earnings of $1.75 per share and revenue of $78.91 billion for the quarter.Nvidia's sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note e-mailed Tuesday.The Fed is scheduled to post minutes of its last policy meeting at 2 pm, which will be assessed for fresh insight on the central bank's monetary policy. Last month, the central bank held interest rates steady, saying the Middle East war is fueling uncertainty around the US economic outlook.Markets widely expect the Fed to keep its benchmark lending rate unchanged at its next policy meeting in June, according to the CME FedWatch tool.Treasury yields were down before the open, with the two-year rate retreating 3.3 basis points to 4.09% and the 10-year rate declining 1.8 basis points to 5.16%.President Donald Trump reportedly said Tuesday that the US may need to resume military strikes against Iran. Earlier in the week, Trump said the US postponed a planned attack on Tehran after leaders of Saudi Arabia, Qatar and the United Arab Emirates urged restraint amid "serious" ongoing negotiations.West Texas Intermediate crude oil decreased 1.9% to $102.17 a barrel in premarket action, while Brent dropped 2% to $109.02.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the EIA domestic petroleum inventories report at 10:30 am. Fed Governor Michael Barr is slated to speak at 9:15 am.Analog Devices (ADI), TJX (TJX), Lowe's (LOW), Target (TGT) and Hasbro (HAS) are expected to post their earnings before the bell, among others. Intuit (INTU), Nordson (NDSN) and Urban Outfitters (URBN) release their results after the markets close.Gold nudged 0.4% lower to $4,493 per troy ounce, while bitcoin gained 0.9% to $77,457.

Dow JonesNasdaq CompositeS&P 500$ADI$HAS$INTU$LOW$NDSN$NVDA$TGT$TJX$URBN

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$INTU

Research Alert: CFRA Downgrades Shares Of Intuit Inc. To A Hold From Buy

Intuit AI Opportunity Still Larger Than TurboTax Risks, RBC Says

Top Midday Stories: Supreme Leader Says Enriched Uranium Must Stay in Iran; Nvidia Q1 Earnings, Q2 Guidance Top Estimates, But Shares Fall

Intuit Seen Facing Pressure From TurboTax Weakness Despite Fiscal Q3 Beat, Oppenheimer Says

US Equity Futures Edge Lower Pre-Bell as Nvidia Stock Flat Despite Earnings Beat, Middle East Peace Talks Drag

Stocks Down Pre-Bell as Traders Monitor US-Iran Developments, Parse Nvidia Earnings

Intuit Raises Fiscal 2026 Outlook Following Third-Quarter Beat; Plans to Reduce Workforce by 17%

Research Alert: Intu: Modest Q3 Beat As Turbotax Growth Decelerates; Outlook Mixed

GUIDANCE: (INTU) Intuit Expects Fiscal 2026 Revenue Range $21.341B-$21.374B, vs. FactSet Est of $21.24B

Sector Update: Tech Stocks Gain Late Afternoon

Sector Update: Tech Stocks Gain Wednesday Afternoon

Top Midday Stories: Target Beats Q1 Estimates, Ups Sales Guidance, But Shares Fall; Intuit Laying Off 17% of Global Workforce

Market Chatter: Intuit to Cut 17% of Workforce in AI-Focused Restructuring

Stocks Gain Pre-Bell Ahead of Nvidia Earnings, Fed Meeting Minutes

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