5 Best Big Tech Stocks to Buy According to Wall Street Analysts

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1. Intuit Inc. (NASDAQ:INTU)

Analyst Upside: 69.09%

Intuit Inc. (NASDAQ:INTU) is one of the best big tech stocks to buy according to Wall Street analysts. Stifel downgraded Intuit Inc. (NASDAQ:INTU) to Hold from Buy on June 17, with the firm bringing the price target on the stock down to $275 from $375. The firm believes that management will lower its near-medium-term growth targets for both TurboTax and GBS with fiscal Q4 results or September Analyst Day commentary. It further told investors in a research note that after years of taking price, the company has moved to a more value-based pricing strategy, especially at the lower end of each business segment, to help stall the recent share erosion.

In a separate development, Goldman Sachs downgraded Intuit Inc. (NASDAQ:INTU) to Sell from Neutral on June 2, bringing the price target on the stock down to $276 from $519. The firm told investors in a research note that it believes consensus estimates are likely too high for the next three years, and that the company may have to revise its long-term growth targets lower. Goldman Sachs further stated that downward estimate revisions are likely to weigh on the stock over the next several quarters before the market adjusts to an updated growth algorithm of 5%-10% sales growth for Intuit Inc. (NASDAQ:INTU).

Intuit Inc. (NASDAQ:INTU) provides business and financial management solutions. Its operations are divided into the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProTax.

While we acknowledge the potential of INTU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than INTU and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

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