Intuit Reports Strong Q3 Results, 'Disappointing' Outlook: 6 Analysts On TurboTax Provider
Portfolio Pulse from Priya Nigam
Intuit Inc (NASDAQ:INTU) reported strong Q3 results but issued a disappointing FY24 outlook, leading to a decline in its stock price. Analysts have mixed reactions, with some lowering their price targets while maintaining Buy ratings, and others expressing concerns over market share losses among free and lower-paying customers.
May 24, 2024 | 3:19 pm
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Intuit reported strong Q3 results but issued a disappointing FY24 outlook, leading to a 7.81% decline in its stock price. Analysts have mixed reactions, with some lowering their price targets while maintaining Buy ratings, and others expressing concerns over market share losses among free and lower-paying customers.
Despite strong Q3 results, Intuit's disappointing FY24 outlook and market share losses among free and lower-paying customers have led to a significant decline in its stock price. Analysts have mixed reactions, with some lowering their price targets while maintaining Buy ratings, indicating a negative short-term impact.
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