Intuit Targets $2 Trillion Construction Market With New AI Suite

Intuit Inc. (NASDAQ:INTU) is among the most profitable software stocks to buy now. On February 11, Intuit Inc. (NASDAQ:INTU) announced the launch of a construction edition for its Enterprise Suite, an AI-driven enterprise resource planning (ERP) solution for the mid-market construction space.

While integrating project, financial, and operational workflows, the new edition is aimed at the $2 trillion construction industry. From budget tracking and cost group planning to project management tools and AIA-style invoicing capabilities, the solution offers a range of features. As stated by Ashley Still, Executive Vice President and General Manager of mid-market at Intuit Inc. (NASDAQ:INTU),

“Construction businesses are naturally complex, with dozens of projects to track and ensure their profitability, rising material costs to monitor, and limited visibility into overall business and multi-entity performance.”

Intuit Inc. (NASDAQ:INTU)

A day prior to this update, BMO Capital significantly reduced the price target on Intuit Inc. (NASDAQ:INTU) to $624 from $810 and maintained an Outperform rating. According to the firm, the online segment excluding “Live” features seemed “a little shakier,” which it believes is a known risk.

Intuit Inc. (NASDAQ:INTU) is a California-based company that offers products and services, including financial management, payments and capital, and marketing solutions. Founded in 1983, the company operates in four segments: Global Business Solutions, 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 this cheapest AI stock.

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Disclosure: None.