Stifel Maintains Buy Rating on Intuit (INTU) After Investor Day

Intuit Inc. (NASDAQ:INTU) is one of the 15 Best American Tech Stocks to Buy Right Now. On September 19, Stifel reiterated its Buy rating on Intuit Inc. (NASDAQ:INTU) with a price target of $800. This decision came after the company hosted its investor day.

During the presentation, Intuit Inc.’s (NASDAQ:INTU) executives shared the company’s AI+HI strategy, which combines artificial intelligence and human intelligence, and is expected to create meaningful long-term acceleration. The company outlined its plans to attract larger, higher-spending customers with an aim to accelerate revenue growth to about 20% by 2030.

Stifel Maintains Buy Rating on Intuit (INTU) After Investor Day

By 2030, Intuit Inc. (NASDAQ:INTU) expects to make around $37 billion in revenue and about $45 in earnings per share through sustained mid-teens revenue growth and improving margins.

Stifel also pointed out that about 70% of QuickBooks Online customers are still not aware of Intuit Inc.’s (NASDAQ:INTU) payroll and payment services. The investment firm is confident that the company will continue its “price-for-value” strategy through AI-driven solutions. The high-growth products are expected to become a bigger part of the company’s business mix.

Intuit Inc. (NASDAQ:INTU) is an American multinational financial technology and business software company that offers a range of products and services.

While we acknowledge the potential of INTU as an investment, 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 a 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.