Intuit Sees AI-Driven Growth With TurboTax, Credit Karma: Analyst Raises Price Forecast

Piper Sandler analyst Arvind Ramnani reiterated Intuit Inc (NASDAQ:INTU) with an Overweight and raised the price target from $765 to $785.

Intuit’s second-quarter results were well ahead of expectations with revenues of $3.96 billion (~$120 million above) and EPS of $3.32 (+$0.75). Growth came from GBS Online Ecosystem growth of 21% (up from 20% in the first quarter of 2025), Desktop Ecosystem growth of +14% (from -17% last quarter), and Credit Karma growth of +36% (+29% in the first quarter of 2025).

The company continues to make progress toward the “done for you experiences,” powered by AI and automation.

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The analyst noteed the company is off to a strong start this tax season, in part due to an AI-enhanced interface.

Intuit Assist has contributed to a 20% reduction in contact support within TurboTax year-to-date.

Intuit stock is +6% after hours despite the company maintaining fiscal 2025 guidance across the board, following beats in both the first and second quarters of the year.

The price target is based on 11.0 times Ramnani’s fiscal 2026E revenue estimate of $20.5 billion (from 12.0 times his previous fiscal 2025E revenue estimate of $18.3 billion). The analyst forecasted revenue growth of +12.4% in fiscal 2025 and +12.1% in fiscal 2026.

INTU Price Action: INTU stock is up 12.74% at $626.43 at publication Wednesday.

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