Updated Aug 12 at 10:45am ET.
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Intuit is rolling out new AI-powered tools for its QuickBooks Online Advanced and Enterprise Suite products. These updates include a chat feature that uses a company's own financial data to answer questions and help with workflows. This is part of a broader push to serve the mid-market, which includes businesses with up to 150 employees.
This matters because these larger customers are worth about three times more in revenue than the small businesses Intuit usually serves. By adding advanced AI that can handle complex accounting tasks, Intuit is making its software harder to leave. This supports the company's goal of moving beyond simple tax filing and into high-margin services for growing companies.
Source: Business Wire
Citrin Cooperman, a large professional services firm, is adding the Intuit Enterprise Suite to its offerings for middle-market companies. This software is designed for businesses with up to 150 employees, offering more advanced financial management and AI tools than the standard version of QuickBooks.
This partnership is a win for Intuit's strategy to move beyond small businesses and individuals. By getting professional advisors to recommend and implement this suite, Intuit can reach larger customers that pay significantly more per year. This shift to bigger accounts is a key part of how the company plans to grow its revenue over the next few years.
Source: PRNewsWire
Law firms are seeking lead plaintiffs for a lawsuit covering the period between August 2025 and May 2026. The case claims that management made misleading statements about the growth of TurboTax and the impact of its AI tools. This stems from a May report where the company lowered its growth expectations for TurboTax to about 7 percent, down from an earlier 8 percent goal. While these lawsuits are a routine response to a sharp stock drop, they highlight the pressure on the company to prove its AI features can actually win back customers who are sensitive to price.
Source: PRNewsWire
Truist Financial set its price target for the stock at $350. This is significantly lower than the average analyst target of $417 across the market.
Analysts use price targets to show what they think a stock will be worth in about a year. This lower target suggests Truist is more cautious than its peers about how quickly the company can grow its tax and accounting software business in the near term.
Source: Truist Financial
Intuit has emerged as one of the top advertisers on the mobile version of ChatGPT, displacing smaller software firms. This comes as OpenAI, the creator of the AI chatbot, has doubled the number of ads it shows to users in the United States.
This shift shows that the company is aggressively trying to reach customers where they are already using AI. By placing ads in these conversations, it aims to position its own expert services and tax tools as the natural next step for people asking financial questions.
Analysts have recently issued a series of downgrades and price target cuts following a wave of negative legal news. Most analysts still rate the stock a buy, and the average target of $417 suggests 26% upside from today.
Intuit has a perfect record of clearing the bars set by analysts over the last two years. Management consistently sets targets they can beat, often by a wide margin.
| Expectation | |
|---|---|
| EPS | $3.54 |
| Revenue | $4.28B |
