By Angela Palumbo
Intuit stock was rising on Friday as investors bet that the future of the Turbo Tax parent will be bright as artificial intelligence products excite customers and lead to cost savings for the company.
Intuit reported better-than-expected fiscal first-quarter financials after the stock market closed on Thursday.
"We thought this was an overall solid quarter with a robust midmarket performance and a promising setup for tax season," William Blair analyst Arjun Bhatia wrote in a note on Friday. Bhatia rates the stock as Outperform without a price target.
Intuit also gave a disappointing second-quarter earnings forecast, but the stock was still rising 5.8% to $674.32 on Friday.
One highlight investors have taken away from the quarter was the ongoing adoption of Intuit's AI products by customers.
"Intuit is executing well on the agentic playbook," BofA Securities analyst Brad Sills wrote in a note Thursday night. "Four agents have been in market for the last four months for QuickBooks alone (accounting, payments, customer and finance) and commentary suggests they're already adding tangible value."
Sills rates Intuit as a Buy with a $800 price target. It was trading today around $674 a share.
Intuit has introduced AI into its platforms like TurboTax, Credit Karma, and QuickBooks, to help customers complete tasks quicker and simpler. These tech updates have come during a time that Wall Street is concerned about a possible AI bubble. Companies are spending massive amounts on AI, but shareholders want to see a return on those investments.
Intuit CFO Sandeep Aujla told Barron's on Thursday that 45% of customers are telling the company that by using the AI accounting agent in QuickBooks, they are saving 12 hours a month. Intuit itself has also cited $135 million worth of cost savings from the technology.
"We're using AI to address customers questions, so they get the answers they want without ever having to talk to a human expert," Aujla said.
Write to Angela Palumbo at angela.palumbo@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
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November 21, 2025 12:29 ET (17:29 GMT)
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