Editor’s Note: The article has been corrected to note that this was Intuit’s second-quarter earnings report.
Intuit Inc (NASDAQ: INTU) reported in-line revenues but managed an earnings beat in the second quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
Stifel On Intuit
Analyst Brad Reback maintained a Buy rating, while raising the price target from $600 to $720.
Intuit reported “solid” second-quarter results “as resilient small business segment results offset a slow start to tax season due to a one-week delay in IRS opening,” Reback said in a note.
“Small business results were led by online services ~4 point sequential acceleration to 24% as Payroll and Payments (1st full quarter of price increase) lead the way,” the analyst wrote. “The Credit Karma segment remained a laggard as a select set of partners continue to tighten lending standards,” he added.
Mizuho Securities On Intuit
Analyst Siti Panigrahi reaffirmed a Buy rating, while lifting the price target from $670 to $725.
Intuit reported in-line revenues, “driven by a miss in Consumer revenue offset by strength in SBSE,” …
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