Oppenheimer Reiterates Outperform On Intuit Following Meeting With Management

In a research report issued to investors today, Oppenheimer analyst Scott Schneeberger reiterated an Outperform rating on Intuit (NASDAQ:INTU) with a $91 price target, as on the tail of significant information updates such as FY15 and FY17 guidance introductions (late-August)/Investor Day (2 weeks ago), Schneeberger recently met with management.

Schneeberger noted, “The company appears confident in its long-term strategy/ability to achieve newly-introduced guidance of 2M QuickBooks Online (QBO) subscribers/ $5.8B of revenue/$5.00 of non-GAAP EPS by FY17. Overall, we’re optimistic INTU can achieve a ~13% adj’d EPS CAGR over the coming three years as it targets aggressive growth/Payroll&Payments attachment in its QBO subscriber base/ delivers mid-single digit TurboTax revenue growth. With FY17 operational objectives appearing achievable, we believe its strong balance sheet/ample FCF afford INTU share repurchase capability that could support/augment its FY15 non-GAAP EPS target of $5.00.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Schneeberger has a total average return of 15.8% and a 63.4% success rate. Schneeberger has a 17.6% average return when recommending INTU, and is ranked #190 out of 3332 analysts.

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