Published: November 30, 2025
Intuit Inc. (NASDAQ: INTU) is wrapping up November with a dense cluster of headlines: new fiscal 2026 earnings guidance, blockbuster AI partnerships, and notable shifts in positions held by major institutional investors. All of this comes just days after the company delivered strong first‑quarter results for its 2026 fiscal year.
Here’s a deep dive into what today’s news flow means for Intuit’s stock, valuation, and outlook going into 2026.
Intuit Issues Upbeat FY 2026 Earnings Guidance
A fresh MarketBeat report released on November 30 highlights that Intuit has updated investors on its fiscal 2026 earnings outlook following its Q1 results. The company now guides for non‑GAAP earnings per share (EPS) between $22.98 and $23.18, comfortably above Wall Street’s consensus estimate of about $20.78. Full‑year revenue is projected in the $21.0–$21.2 billion range, essentially in line with analysts’ expectations around $21.1 billion. [1]
The same report notes that Intuit’s most recent quarter delivered: [2]
- Adjusted EPS: $3.34 vs. $3.09 expected
- Revenue: $3.87–$3.89 billion (about 18% year‑over‑year growth)
- Net margin: above 20% and return on equity over 22%
Analyst sentiment remains broadly constructive. MarketBeat counts one Strong Buy, twenty‑two Buy, four Hold and one Sell ratings, for an overall “Moderate Buy” consensus and an average price target of about $798 per share. [3]
Separately, StockAnalysis aggregates a slightly higher 12‑month target around $812, implying roughly 28% upside from recent prices near $630–$635. [4]
Q1 2026 Results: AI Strategy Is Showing Up in the Numbers
Intuit’s own Q1 fiscal 2026 press release paints the picture of a company leaning heavily into AI and still growing at a double‑digit clip off a large base. For the quarter ended October 31, 2025, Intuit reported: [5]
- Total revenue: $3.9 billion, up 18% year over year
- Non‑GAAP operating income: $1.26 billion, up 32%
- Non‑GAAP diluted EPS: $3.34, up 34%
- GAAP EPS: $1.59, up 127%
By segment, growth was broad‑based:
- Global Business Solutions (driven by QuickBooks and related services) grew revenue 18% to about $3.0 billion, with online ecosystem revenue up 21%.
- Consumer revenue climbed 21% to $894 million, with Credit Karma up 27%, TurboTax up 6%, and ProTax up 15%. [6]
Management reiterated full‑year fiscal 2026 guidance:
- Revenue: $21.0–$21.19 billion (around 12–13% growth)
- Non‑GAAP operating income: $8.61–$8.69 billion (about 14–15% growth)
- Non‑GAAP EPS: $22.98–$23.18 (also 14–15% growth). [7]
CFO Sandeep Aujla emphasized confidence in “delivering double‑digit revenue growth and expanding margins” this year, while CEO Sasan Goodarzi highlighted the company’s “AI‑driven expert platform strategy” that combines data, AI models and human experts across TurboTax, QuickBooks, Credit Karma and Mailchimp. [8]
AI Megadeal With OpenAI Reframes the Long‑Term Story
A big part of the bullish narrative now orbiting Intuit is its newly announced $100M+ multi‑year partnership with OpenAI.
According to Intuit and multiple media reports, the company has signed a deal worth more than $100 million to use OpenAI’s frontier models across its internal generative AI operating system (GenOS). The agreement will power AI “agents” embedded throughout Intuit’s apps, helping customers do things like forecast cash flow, prepare taxes, evaluate credit offers, or manage payroll via natural language conversations. [9]
Key elements of the partnership include:
- Deep model integration: OpenAI’s models will sit inside Intuit’s GenOS, fueling AI agents across TurboTax, QuickBooks, Credit Karma and Mailchimp. [10]
- ChatGPT access: Intuit’s financial tools will be accessible directly in ChatGPT, so users can estimate tax refunds, compare credit options or check business cash‑flow scenarios conversationally. [11]
- 100M‑user data advantage: Intuit serves roughly 100 million customers, and with user permission, the partnership aims to leverage this data to generate more personalized financial insights. [12]
Reuters noted that shares rose about 3–3.5% in pre‑market and extended trading after the Q1 report and OpenAI deal were detailed, underscoring investor enthusiasm for the AI roadmap even as near‑term guidance for Q2 EPS came in a bit below Street expectations. [13]
Institutional Investors Trim, But Keep Intuit as a Core Holding
Two fresh SEC‑linked filings, highlighted by MarketBeat on November 30, show major institutional investors reshuffling – but not abandoning – their Intuit exposure.
Bristol Gate Capital Partners
Bristol Gate Capital Partners Inc. reduced its Intuit stake by 18.6% in the second quarter, selling 26,560 shares. After the sale, the firm still held 116,103 shares, worth about $91.4 million, and Intuit remains 5.2% of its portfolio, making it Bristol Gate’s third‑largest position. [14]
Edgewood Management
Edgewood Management LLC also trimmed its position, selling 182,524 shares and cutting its stake by 7.5%. It still owns roughly 2.24 million Intuit shares, representing about 0.8% of the company, valued around $1.76 billion and accounting for 5.6% of Edgewood’s portfolio – its fifth‑largest holding. [15]
Both articles emphasize that institutional ownership sits around 83–84% of Intuit’s float, meaning large funds remain deeply embedded in the shareholder base even as some rebalance after the recent run‑up and subsequent pullback. [16]
From a stock‑action standpoint, these trims are more consistent with portfolio risk management and profit‑taking than a wholesale vote of no confidence.
Valuation Debate: Is INTU Undervalued After the Pullback?
Despite robust fundamentals and the high‑profile OpenAI deal, Intuit’s share price has lagged its own highs.
Simply Wall St’s November 30 analysis notes that: [17]
- 1‑year total shareholder return: about ‑0.5%
- 3‑year return: roughly +58.6%
- 5‑year return: about +77.5%
Their most popular “narrative” model assigns a fair value near $805 per share, roughly 20–21% above the latest closing price, and frames the stock as modestly undervalued based on expectations for continuing revenue and margin expansion driven by AI‑powered, all‑in‑one financial workflows. [18]
ChartMill’s fundamental screen, updated November 29, reaches a similar conclusion through a different lens: [19]
- EPS growth: ~23.9% in the past year, with ~20.8% average annual growth over recent years
- Revenue growth: ~17.1% in the last year, averaging ~19.7% annually
- Profitability:
- Return on invested capital (ROIC) around 16.5%, ahead of over 90% of software peers
- Operating margin around 26–27%
- Gross margin close to 80%
- Balance sheet: Altman‑Z score above 9, low debt‑to‑equity (~0.28) and debt‑to‑free‑cash‑flow just under 1x
On valuation, ChartMill argues that while Intuit’s headline P/E looks high, its forward P/E in the low‑to‑mid‑20s and PEG ratio around 1.8 are reasonable relative to its growth, making it attractive within an “affordable growth” framework. [20]
StockAnalysis puts trailing twelve‑month EPS at $14.57 with a trailing P/E around 43–44 and a forward P/E about 26–27, again suggesting that much of the premium is tied to earnings that are still ramping. [21]
Where Intuit’s Stock Stands Right Now
As of the last U.S. trading session on Friday, November 28, 2025, Intuit shares were changing hands around the low‑$630s. MarketBeat and ChartMill both cite an open or last price near $633.94, with a 52‑week range from roughly $533 to $814 and a market capitalization near $176 billion. [22]
Additional snapshot metrics: [23]
- Market cap: about $176–177 billion
- TTM revenue: roughly $19.4 billion
- TTM net income: about $4.1 billion
- Dividend: $1.20 per quarter, or $4.80 annually, for a yield around 0.7–0.8% after a recent 15% hike
- Beta: around 1.25, suggesting slightly higher volatility than the broader market
For context, some analysts still see meaningful upside: StockAnalysis aggregates a Strong Buy consensus from 18 analysts with an average target above $810, while MarketBeat’s sample points to an average closer to $798, both comfortably ahead of current levels. [24]
Beyond the Headlines: Product, AI and Ecosystem Momentum
Recent weeks have also brought a flurry of product and partnership news that rounds out the picture behind the numbers:
- AI‑native ERP for mid‑market: Intuit has partnered with firms like Cherry Bekaert and Rehmann to roll out its Intuit Enterprise Suite, an AI‑native ERP aimed at multi‑entity mid‑market businesses looking to consolidate fragmented finance stacks. [25]
- Virtual AI “teams” for SMBs: New QuickBooks features in markets like the UK and Canada offer virtual teams of AI agents plus human experts to automate bookkeeping, customer management and compliance, with the company claiming small businesses can save up to 12 hours per month on routine tasks. [26]
- SMB MediaLabs and adtech integration: Intuit’s SMB MediaLabs audience data is now available on The Trade Desk, helping advertisers target small and mid‑market businesses using Intuit’s first‑party data. [27]
Together with the OpenAI partnership, these moves reinforce the core strategic thesis: Intuit wants to be not just tax and accounting software, but an AI‑first financial operating system for consumers and small to mid‑size businesses.
Risks and Bear Arguments Still in Play
Despite the upbeat guidance and AI narrative, there are important caveats that show up in recent coverage:
- Mailchimp softness & Q2 EPS guide: Analysts and outlets like Trefis have flagged softness in Mailchimp revenue and the fact that Intuit’s Q2 EPS guidance of $3.63–$3.68 sits below Street estimates of around $3.83, even as revenue guidance is ahead of consensus. [28]
- Rich valuation vs. peers: Even with strong growth, Intuit still trades at a higher multiple than many application‑software names. Bears argue that any stumble in execution or macro‑driven slowdown could compress that premium. [29]
- Execution risk in AI: Integrating OpenAI models at scale while maintaining data privacy, regulatory compliance and product reliability is non‑trivial, especially in a regulated, trust‑dependent domain like personal finance and tax. [30]
Simply Wall St explicitly calls out ongoing weakness at Mailchimp and potential international growth challenges as key risks, even under optimistic fair‑value scenarios. [31]
What Today’s News Means for Intuit Stock Heading Into 2026
Pulling today’s November 30 headlines together, the picture that emerges for Intuit is:
- Fundamentals: Double‑digit top‑line growth, expanding margins, and guidance that calls for mid‑teens EPS growth in fiscal 2026. [32]
- Capital returns: A larger dividend and an active buyback program (with about $4.4 billion remaining on the authorization) add a shareholder‑friendly overlay. [33]
- AI optionality: A $100M+ OpenAI partnership, AI‑native ERP, virtual AI teams, and adtech integrations give Intuit multiple levers to increase revenue per customer and defend its moat. [34]
- Ownership & sentiment: Big funds like Edgewood and Bristol Gate are trimming but still treat Intuit as core positions, while Wall Street’s average target price remains significantly above the current quote. [35]
For investors, the core question after today’s wave of updates is less “Is Intuit growing?” and more “How much of that growth – and how much of the AI upside – is already baked into the share price?”
The consensus from many fundamental and narrative‑driven analyses published on November 30 is that, after a year of choppy price action and a pullback from all‑time highs, Intuit still offers upside if management continues to execute on its AI‑heavy roadmap and Mailchimp headwinds stay contained. Whether that upside justifies the still‑premium multiple will be the main debate as markets head into the 2026 tax season and beyond.
References
1. www.marketbeat.com, 2. www.marketbeat.com, 3. www.marketbeat.com, 4. stockanalysis.com, 5. investors.intuit.com, 6. investors.intuit.com, 7. investors.intuit.com, 8. investors.intuit.com, 9. investors.intuit.com, 10. investors.intuit.com, 11. finance.yahoo.com, 12. www.ft.com, 13. www.reuters.com, 14. www.marketbeat.com, 15. www.marketbeat.com, 16. www.marketbeat.com, 17. simplywall.st, 18. simplywall.st, 19. www.chartmill.com, 20. www.chartmill.com, 21. stockanalysis.com, 22. www.marketbeat.com, 23. stockanalysis.com, 24. stockanalysis.com, 25. www.stocktitan.net, 26. www.stocktitan.net, 27. investors.intuit.com, 28. www.reuters.com, 29. www.chartmill.com, 30. www.reuters.com, 31. simplywall.st, 32. investors.intuit.com, 33. investors.intuit.com, 34. investors.intuit.com, 35. www.marketbeat.com
