Intuit: Reiterate Buy As The Bull Case Gets Stronger

Intuit is rated a buy, driven by robust earnings growth from TurboTax Live, mid-market expansion, and AI-driven margin improvements. TTL revenue surged 47% year-over-year, now comprising 41% of consumer revenue, while mid-market penetration and ARPC growth signal a positive inflection point for INTU. AI investments are accelerating developer productivity, reducing costs, and structurally expanding margins, with FY25 EBIT margin up 90 bps and further gains guided for FY26.