Intuit Gets Price Target Increases By Analysts After Upbeat Q4 Results, Shares Rise

Intuit Inc INTU reported better-than-expected financial results and issued full-year revenue guidance above analyst estimates.

Intuit expects full-year 2023 revenue to be between $14.485 billion and $14.7 billion versus the estimate of $14.47 billion. The company expects full-year adjusted earnings to be between $13.59 and $13.89 per share versus the estimate of $13.81 per share.

Intuit shares rose 6% to $476.31 in pre-market trading.

Several analysts made changes to their price targets on Intuit today.

• Keybanc raised the price target on the stock from $475 to $525. Keybanc analyst Josh Beck maintained an Overweight rating on the stock.
• Piper Sandler increased price target on the stock from $500 to $553. However, Piper Sandler analyst Arvind Ramnani maintained Intuit with an Overweight.
• Barclays boosted Intuit’s price target $580 to $585. However, Barclays analyst Raimo Lenschow maintained the stock with an Overweight.