It’s tax time.
As one of life’s two certainties, tax season can be the most, well… taxing.
These days, far too many of us are unwilling to do our own taxes, so we leave it up to trusted tax professionals. That way we don’t make mistakes with filing status, dependents, capital gains, or making dangerous assumptions. Many of us also forget human error can be costly. Even the smallest error can lead to expensive tax bills and a possible visit from the “friendly” IRS.
Aside from H&R Block (HRB), another great way to trade taxes is with Intuit (INTU) – whose TurboTax is popular with taxpayers. At $653 a share, it’s another one that typically runs around this time of the year. While it’s just a bit overbought at current prices, it’s still being bid higher on tax season.
Earnings have been solid. In its most recent quarter, the company posted Q1 2024 adjusted earnings per share of $2.47, beating estimates by a solid 49 cents. Revenue climbed 15% Y/Y to $3B, also beating expectations by $120M. Moreover, INTU’s FQ1 adjusted operating income soared 45% Y/Y to $960M, as noted by Seeking Alpha.
Oppenheimer just raised its price target on INTU to $678 from $610 a share. KeyBanc analyst Josh Beck raised the firm’s price target on Intuit to $700 from $670 and keeps an Overweight rating. And Citi raised its price target to $700 from $651, with a buy rating.
