10 Stocks To Buy Before They Split Next

4. Intuit Inc. (NASDAQ:INTU)

Share Price as of October 18: $607.90

Surge in Share Price in 5 Years: 131.61%

Stock Split Confirmed: no

Number of Hedge Fund Holders: 82

Intuit Inc. (NASDAQ:INTU) is a leading global financial technology platform offering solutions for individuals and small businesses. Its products include TurboTax for tax preparation, Credit Karma for financial management, QuickBooks for business accounting, and Mailchimp for email marketing. With over 100 million customers worldwide, it empowers individuals and businesses to achieve their financial goals.

The company has transitioned to a cloud-first company, leveraging customer data to enhance user experiences across its product lines and streamline marketing efforts. This strategic shift has strengthened its economic moat by increasing switching costs and fostering a network effect. The company uses AI to empower individuals and businesses. Intuit Assist, a GenAI-powered digital assistant, is being integrated across product lines to provide personalized guidance for tasks like credit card selection, cash flow projection, email marketing campaign creation, and tax return understanding.

In the fourth quarter of fiscal 2024, revenue totaled $3.18 billion, up 17.40% year-over-year. For the full year, it was up 13%. Online Ecosystem revenue was up the most by 20%. Other segments, such as the Consumer Group revenue, Credit Karma revenue, and Small Business and Self-Employed Group revenue also saw significant growth in FY2024.

Its AI-driven platform and comprehensive product offerings position it for continued growth. With a positive outlook from analysts and a strong financial performance, Intuit Inc. (NASDAQ:INTU) is well-positioned to capitalize on the growing demand for AI-powered financial solutions.

Baron Funds stated the following regarding Intuit Inc. (NASDAQ:INTU) in its “Baron FinTech Fund” second quarter 2024 investor letter:

“Intuit Inc. (NASDAQ:INTU) has been rolling out Intuit Assist, a GenAI powered digital assistant, across its product lines to help Credit Karma users select new credit cards, QuickBooks customers forecast cash flow, Mailchimp customers create targeted email marketing campaigns, and TurboTax customers understand changes in their tax returns from the prior year. Klarna, the privately held consumer lending and payments company, is cutting costs by using GenAI assistants to handle two-thirds of customer service chats and reduce its dependency on external marketing agencies. We consider these GenAI advancements to be evolutionary rather than revolutionary, but we continue to closely monitor the impact of new technologies on the fintech industry.”