Jim Cramer on Intuit: “You Stick With That One, It’s Going to Go Higher”

Intuit Inc. (NASDAQ:INTU) is one of the stocks on which Jim Cramer expressed his thoughts. A caller sought Cramer’s thoughts on the stock toward the end of the lightning round, and here’s what he had to say:

Okay. Sasan Goodarzi came on our show, the CEO came on our show after that quarter. A lot of people didn’t like the quarter. He liked it. I liked it. And what’s it done? Nothing but go higher. You stick with that one. It’s going to go higher.

Stock market data. Photo by Alesia Kozik on Pexels

Intuit Inc. (NASDAQ:INTU) provides financial management, tax preparation, marketing, and personal finance solutions. Cramer discussed the stock during the February 26 episode, as he commented:

Nearly two months into the year, the worst performing stock in the entire S&P 500 is Intuit, the software company behind TurboTax and QuickBooks, smaller businesses like Credit Karma, Mailchimp. This one’s down more than 40% year to date, even after bouncing nicely today along with that whole enterprise software cohort.

Now, I always felt like Intuit had more protection against AI disruption than the typical software play. And tonight, Intuit reported a tremendous set of numbers with revenue growth in the high teens and a monster earnings beat. But management didn’t raise their full-year forecast and their guidance for the current quarter. That is the most important quarter of the year because of tax season also came in a little light. I say this is standard practice. These guys never raise numbers going into tax season, but that’s why the stock’s trading lower after hours.

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