Mizuho analysts said the Intuit (NASDAQ: INTU ) share price fall as a result of the negative read-through from Bill.com (NYSE: BILL ) earnings appears to be an overreaction and presents a buying opportunity. Intuit shares are down more than 2% so far on Monday. Analysts who have a Buy rating and $650 price target on Intuit, explained in a research note that "INTU shares were down 6% on Friday along with BILL (down 27%) following a disappointing FQ2 and guidance from BILL." "While we acknowledge that macro headwinds might be impacting SMBs, we view QuickBooks as mission-critical with payment representing only ~7% of revenues. At first glance, BILL’s commentary on slowing payment volume growth and net customer adds due to a weaker macro appears to have negative read-through for INTU," the analysts stated. However, they also said that based on the firm’s analysis of BILL’s weakness and INTU’s exposure, they believe the "recent sell-off in INTU shares is an overreaction from BILL read-through and presents a buying opportunity heading into INTU’s FQ2 results on Feb 23." In a separate note looking at Intuit’s fiscal second quarter, the analysts declared that the firm expects another strong quarter for the […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
