Intuit (INTU) Stock: JPMorgan and BofA Downgrade After Earnings Guidance Cut
TLDR
- Intuit beat Q4 estimates with EPS of $4.03 vs $3.54 expected and revenue of $4.35B vs $4.27B expected, but the stock dropped 11% after hours.
- FY27 revenue growth guidance came in at 9-10%, down from 14% in FY26 and below the 12% Wall Street expected.
- TurboTax growth was guided to just 2-3%, well below the 6.8% analysts had forecast, raising concerns about AI competition.
- JPMorgan and Bank of America both downgraded INTU to Neutral, with JPMorgan slashing its price target from $605 to $331.
- Bulls including Mizuho and Jefferies held their Outperform ratings, with price targets ranging from $380 to $500.
Intuit dropped around 11% after hours following its fiscal Q4 earnings report, hitting $318 before settling near $339.75 in Wednesday trading. The stock is currently down roughly 3.5% on the day.
The numbers themselves were solid. Intuit posted Q4 EPS of $4.03 against estimates of $3.54, a beat of nearly 14%. Revenue came in at $4.35 billion, up 13.6% year-over-year and ahead of the $4.27 billion consensus.
… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
