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.

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.

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