10 Best Stocks to Buy According to Billionaire Steve Cohen

7. Intuit Inc. (NASDAQ:INTU)

Point72 Asset Management’s Q4 Stake: $346.16 million

Number of Hedge Fund Holders: 89

Intuit Inc. (NASDAQ:INTU) is a global financial technology platform that enables both individuals and organizations to achieve their financial goals. Its products include Mailchimp for email marketing, QuickBooks for company accounting, Credit Karma for financial management, and TurboTax for tax preparation.

On March 12, Mizuho Securities reaffirmed its Outperform rating on Intuit Inc. (NASDAQ:INTU), with a price target of $765. This follows a series of investor meetings with Intuit’s CEO, Sasan Goodarzi. The strategic importance of Intuit’s AI-powered expert platform was noted during these meetings, particularly for consumer and corporate applications. Mizuho’s study also predicts that Intuit’s tax-related efforts are likely to be successful this year, especially in the consumer market. These include focused marketing for assisted services, increasing local expert presence in search results, and focusing on capturing the lower-end market.

Intuit Inc. (NASDAQ:INTU) maintained a bullish estimate for fiscal year 2025, with revenues expected to range between $18.16 billion and $18.35 billion, reflecting a 12-13% rise. Operating income is forecast to increase by 28% to 30%, while diluted earnings per share are expected to expand by 13-14%.

Parnassus Growth Equity Fund stated the following regarding Intuit Inc. (NASDAQ:INTU) in its Q3 2024 investor letter:

“Intuit Inc. (NASDAQ:INTU) shares fell despite the financial software company posting strong quarterly results. The company’s pricing-dependent long-term guidance concerned investors. However, we continue to believe Intuit’s customer growth and relevant platform will sustain its wide moat and long growth runway.”