Intuit Stock Falls After 'Solid' Earnings, Analysts Say AI Investments Will 'Yield Dividends'
Portfolio Pulse from Priya Nigam
Intuit Inc (NASDAQ:INTU) shares fell despite reporting strong quarterly results. Analysts from BofA Securities, JPMorgan, and Goldman Sachs provided insights, highlighting AI investments and growth potential. BofA raised its price target to $780, JPMorgan to $600, and Goldman maintained a target of $765.
August 23, 2024 | 4:35 pm
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Intuit's stock fell by 7.77% despite strong earnings. Analysts are optimistic about AI investments and growth potential, with BofA raising the price target to $780, JPMorgan to $600, and Goldman maintaining $765.
Intuit reported strong earnings with better-than-expected revenue growth. Analysts are positive about the company's AI investments, which are expected to drive future growth. Despite the stock's decline, the raised price targets from BofA and JPMorgan, along with Goldman's maintained target, suggest a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100