Wells Fargo Lifts PT on Intuit (INTU) Stock, Keeps Overweight

Intuit Inc. (NASDAQ:INTU) is one of the 10 software stocks analysts are upgrading. On June 13, Wells Fargo analyst Michael Turrin upped the company’s price objective to $880 from $825, while keeping an “Overweight” rating, as reported by The Fly. The firm believes that reduced economic uncertainties and a resurgence in typical purchasing patterns are expected to result in a recovery in the broader software sector during the latter part of the year. Intuit Inc. (NASDAQ:INTU) delivered a healthy Q3 2025 thanks to the outstanding tax season and continued momentum in its Global Business Solutions Group and Credit Karma.

A professional tax preparer, using a laptop to complete an income tax return.

During Q3 2025, Intuit Inc. (NASDAQ:INTU)’s Global Business Solutions Group revenue rose to $2.8 billion, reflecting a rise of 19%. Furthermore, the Online Ecosystem revenue increased to $2.1 billion, up by 20%. For the full fiscal year, Intuit Inc. (NASDAQ:INTU) expects TurboTax Live revenue to increase by 47% to $2.0 billion, representing ~40% of total Consumer Group revenue, while TurboTax Live units are expected to grow by 24%.

TurboTax Online paying units are expected to grow ~6% due to share gains from higher average revenue per return (ARPR) filers, with ARPR likely to increase ~13% as more customers choose assisted offerings and faster access to refunds. Parnassus Investments, an investment management company, released the Q3 2024 investor letter. Here is what the fund said:

“Intuit Inc. (NASDAQ:INTU) shares fell despite the financial software company posting strong quarterly results. The company’s pricing-dependent long-term guidance concerned investors. However, we continue to believe Intuit’s customer growth and relevant platform will sustain its wide moat and long growth runway.”

Intuit Inc. (NASDAQ:INTU) is a leading player in the broader software industry, as it is known for its financial and tax software products.

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.