Intuit (INTU) Sees Sustained Analyst Bullishness as November Comes to a Close

INTU +0.63% BMO +1.26%

We recently published 10 Best Strong Buy AI Stocks to Invest In.  Intuit Inc. (NASDAQ:INTU) is one of the best consumer cyclical stocks.

Intuit Inc. (NASDAQ:INTU) is a software company that provides a wide variety of finance-related services such as business management, payroll management, marketing automation, and customer relationship management.

When it comes to strong analyst ratings, November’s tail-end has been quite busy for Intuit Inc. (NASDAQ:INTU). On the 21st, analysts from Wells Fargo, RBC Capital, and BMO Capital all kept their Outperform and Overweight ratings on the shares. Among these, Wells is the only one with an Overweight rating. Its latest coverage saw the bank cut Intuit Inc. (NASDAQ:INTU)’s share price target to $840 from $880 after the firm’s fiscal first-quarter earnings report. BMO kept its Outperform rating, but reduced the price target to $810 from $870. BMO noted that Intuit Inc. (NASDAQ:INTU)’s QuickBooks Online software and Credit Karma platforms are benefiting from growth through entry into new markets and the upcoming tax season.

On the hedge fund front, 96 funds tracked by Insider Monkey had disclosed holding Intuit Inc. (NASDAQ:INTU) in their third quarter 13F filings. Among these, AQR Capital Management‘s position marked an 89% growth over the previous quarter’s figures.

During the third quarter earnings call, Intuit Inc. (NASDAQ:INTU)’s management responded to analyst queries about its QuickBooks Online pricing power, with CFO Sandeep Singh Aujla commenting:

“On the QBO side, we continue to see our innovation resonate with the customer and even after we did the price changes and the lineup innovation there last July, we saw that our customer attrition again came in below our expectations. So just highlighting how the pricing power we have as well as how well the innovation truly is resonating with our customers. And when we see some of this innovation, such as 45% of our customers telling us that they’re saving up to twelve hours a month, that’s a meaningful increase in the productivity of getting paid five days faster. A meaningful increase to the net working capital. So these I would highlight these as areas where we’re driving innovation.

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Disclosure: None. This article is originally published at Insider Monkey.