With significant hedge fund interest, Intuit Inc. (NASDAQ:INTU) secures a spot on our list of the 10 best SaaS stocks to buy according to hedge funds. As of Q1 2026, 92 hedge funds held bullish positions in the stock, representing $6.96 billion in aggregate value.
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After the company released its latest quarterly updates, Intuit Inc. (NASDAQ:INTU) announced an expansion of its AI offerings.
On May 20, 2026, Intuit Inc. (NASDAQ:INTU) said it would cut 17% of its full-time workforce, or nearly 3,000 roles globally, to simplify its organizational structure and focus on key areas, including AI. Intuit expects restructuring charges of $300 million to $340 million tied to the cuts to be recognized in the fourth quarter. The announcement sent shares down 14% after the bell.
Intuit Inc. (NASDAQ:INTU) also lowered its fiscal 2026 TurboTax revenue forecast to a range of $5.277 billion to $5.282 billion, from a prior projection of $5.305 billion to $5.330 billion. CEO Sasan Goodarzi said total IRS tax filings are projected to drop nearly 30 basis points this season, roughly 2 million short of broader economic forecasts, which he described as the steepest industry-wide contraction since the post-COVID era. Goodarzi added that Intuit plans to take pricing actions at the higher end of its portfolio and announced a platform expansion set for August.
For the quarter ended April 2026, Intuit Inc. (NASDAQ:INTU) reported revenue of $8.56 billion, short of the analyst consensus of $8.61 billion. Adjusted EPS came in at $12.80, ahead of the $12.57 estimate. Despite the TurboTax cut, Intuit raised its full-year revenue outlook to $21.34 billion to $21.37 billion, up from its prior range of $21 billion to $21.19 billion.
On May 28, 2026, Intuit Inc. (NASDAQ:INTU) announced Analytics AI, a conversational analytics agent in Mailchimp that connects campaign performance, audience data, and revenue outcomes. The company also expanded Mailchimp integrations with Claude, Wix, and WooCommerce.
Intuit Inc. (NASDAQ:INTU) is a global financial technology platform behind TurboTax, Credit Karma, QuickBooks, Mailchimp, and Intuit Enterprise Suite, serving about 100 million customers worldwide.
While we acknowledge the risk and potential of INTU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than INTU and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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