Intuit Stock Dips Following Q1 Results and FY25 Guidance Below Estimates

Intuit Inc. (NASDAQ: INTU) experienced a decline in its stock price following the release of its first-quarter fiscal year 2025 results and guidance that fell below analyst expectations. On November 21, 2024, Intuit announced its Q1 FY25 earnings, which, although beating some estimates, did not meet the market’s overall expectations.

The company reported earnings per share (EPS) that were in line with or slightly above some estimates, but the forward guidance for FY25 was lower than what analysts had anticipated. This led to a drop in Intuit’s stock price, with shares falling by 1.20% to $599.98 on the day of the announcement.

Despite the short-term decline, Intuit’s financial performance in the recent period has been strong. The company’s revenue for the fiscal year 2024 was $16.29 billion, a 13.34% increase from the previous year, and its net income rose by 24.29% to $2.96 billion.

Intuit’s stock has been closely watched due to its significant presence in the financial technology sector, particularly with its products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp. Analysts continue to rate the stock as a “Buy” with a 12-month price target of $734.56, indicating a potential 14.46% increase from the current price.