The stock of Intuit is heading for its highs.

Last Updated: 29. November 2023By

Three months ago, I first introduced you to the Intuit stock at this point. Despite a temporary weakness phase, the share price has since increased by around 10%.

The share not only remains attractive due to the once again convincing figures. The chart technique also gives the green light for further rising prices.

Intuit: Leading provider of software for financial topics I don’t know if you know the US company. But maybe you also do your tax return with the tax software QuickSteuer and use – probably without knowing it – a product of the American company. This tax program is sold in cooperation with Intuit Germany by Lexware in this country.

Intuit was founded in 1983 and has its headquarters – like Alphabet, by the way – in Mountain View, California. The US company specializes in software that simplifies many complex processes related to finance. In addition to private individuals, the products are particularly aimed at small businesses, accounting experts and financial service providers.

Important product lines are QuickBooks, TurboTax, Credit Karma and Quicken. These help both private individuals and companies and financial experts with everyday requirements such as paying bills, checking balances, creating payrolls or tax reviews. The ProSeries and Lacerte tax programs are additionally offered for accounting. The products are sold in the USA, Canada, Great Britain and India, among other places.

Annual forecast confirmed The US company has been growing steadily for years. In the past ten years, there was only one year (2015) in which sales and profits were declining. Within the last five financial years, sales were expanded by 141%. Net profit increased by 97% in the same period.

Last night after the stock exchange closed, Intuit reported current business figures and was able to exceed analyst expectations. In the first quarter of the new financial year 2023/2024 (until July), sales rose by almost 15% to 2.98 billion dollars. Net profit was 241 million dollars and six times as much as in the previous year. Analysts had only expected revenues of 2.88 billion dollars and a result of 1.98 dollars per share.

Although the management was cautious about the outlook for the current second quarter, it simultaneously confirmed the forecast for the full year. For the 2023/2024 financial year, Intuit still expects sales to increase by up to 12% to 15.89 to 16.105 billion dollars. Adjusted profit is expected to increase by up to 14% to 16.17 to 16.47 dollars.


All-time high in view After a significant correction in 2022, Intuit’s share price has resumed its long-term upward trend this year. Recently, the price climbed above the intermediate high from September at just under 559 dollars and marked a new annual high. This gives the chart technique the green light for further price increases. The chances of a continuation of the long-term upward trend are good. For next year, the all-time high, which was reached in November 2021 at around 717 dollars, is a realistic goal.