Intuit Inc. (NASDAQ:INTU) will report its fiscal third-quarter results on Thursday, May 22.
This is a tax-heavy quarter. That’s a “validation opportunity” for the company’s strategic initiatives, according to Goldman Sachs.
Execution “proof-points” can reinforce investor confidence in long-term growth durability, according to analyst Kash Rangan.
The Intuit Analyst: Rangan maintained a Buy rating and price target of $750.
The Intuit Thesis: The Mountain View, California-based firm, known for its financial technology platform, is likely to report revenue growth of 13% and consumer growth of 10%. These projections beat consensus estimates of 12% and +9%, respectively, Rangan said.
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These results are “supported by IRS data showing assisted tax volume’s accelerating growth (+1.7% vs. +0.6% in 2024), a category where Intuit is seeing product-market-fit and driving adoption as a price-disruptor,” he added.
“With assisted solutions now in their fifth year (~30% of Consumer), we expect solid execution driven by targeted campaigns showing healthy reception and pipeline conversion, better-integrated product portfolio, and AI-led investments enhancing platform engagement, all of which should prove conducive to Intuit’s market positioning in tax,” the analyst wrote.
DIY volume growth has been muted in the industry. However, it does not pose much risk for intuit, the analyst added. The company is gaining market share with refined promotion strategies, Rangan stated.
Beyond tax, Intuit’s broader software is witnessing citing stable demand from small and medium businesses, he added.
INTU Price Action: Shares of Intuit had risen by 0.13% to $671.18 at the time of publication on Monday.
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