Royal Bank of Canada Maintains Outperform Rating on Intuit with $385 Price Target

Royal Bank of Canada reaffirmed an outperform rating on Intuit software with a $385 price target, suggesting significant upside potential from current levels. Intuit surpassed recent quarterly expectations by reporting earnings per share of $4.03 against a consensus estimate of $3.58 and generating $4.35 billion in revenue, representing 13.7% year-over-year growth. The consensus view among analysts remains mixed with a neutral rating overall, though 16 analysts rate the stock as a buy compared to 12 holds and three sells.

Intuit's recent earnings announcement demonstrated solid operational performance, with the company delivering results that surpassed analyst expectations across key metrics. The software firm's quarterly revenue reached $4.35 billion, reflecting healthy year-over-year expansion, while earnings per share came in significantly ahead of consensus projections. Looking ahead, management has provided guidance suggesting continued growth trajectory through 2027, indicating confidence in the company's financial outlook.

The divergence between Royal Bank of Canada's constructive stance and the broader analyst consensus highlights differing views on Intuit's valuation and prospects. While multiple investment firms have recently adjusted their positions—some raising targets while others reduced them—the overall consensus remains neutral, suggesting the market is still calibrating its assessment of the company's value in the current environment.