Piper Sandler raised its price target on Intuit Inc. to $290 from $250 on Tuesday, citing expectations for higher free cash flow margins, while maintaining an Underweight rating on the stock.
The upgrade comes after Intuit reported fourth-quarter results that exceeded consensus estimates. Revenue grew 13.7% year-over-year to $4.03 billion, surpassing the $3.58 billion estimate. Non-GAAP earnings per share reached $4.03, above the $3.58 forecast, while the operating margin expanded to 33.3% from the expected 30.7%.
Intuit’s stock has declined 45% year-to-date, trading near $348.64 at the time of the report. The company’s gross margin stands at 81%, and its free cash flow yield is approximately 9%.
Piper Sandler also noted that management has lowered its long-term growth targets. The Global Business Solutions Group’s three-year compound annual growth rate (CAGR) is now guided between 10% and 15%, down from the prior range of 15% to 20%. The Consumer segment’s three-year CAGR target has been reduced to a range of 4% to 8%, compared with the previous TurboTax guidance of 6% to 10%.
For fiscal 2027, Intuit’s revenue growth guidance midpoint is 9.1% year-over-year, totaling $23.40 billion, which falls short of the $23.74 billion consensus estimate. The company’s fiscal year 2027 guidance was revised downward from the initial midpoint provided in September 2025.
Other analysts have adjusted their targets as well. Mizuho maintained its $430 price target with an Outperform rating, while BMO Capital set a $412 target with an Outperform rating. Stifel raised its target to $300 from $275 but kept a Hold rating. Wells Fargo reduced its target to $300 from $360 with an Equal Weight rating, and Morgan Stanley lowered its target to $315 from $335, also with an Equal Weight rating.
Piper Sandler acknowledged that Intuit needs to rebuild investor confidence following a miss in the tax segment during the third quarter, which will require time and consistent execution.
