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Here's Why Intuit (INTU) is a Strong Growth Stock

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

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Intuit (INTU)

Headquartered in Mountain View, CA, Intuit Inc. is a business and financial software company that develops and sells financial, accounting and tax preparation software and related services for small businesses, consumers and accounting professionals globally. The company has offices in the United States, Canada, India, the United Kingdom, Singapore, Australia, and other locations.

INTU sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of A, and has a VGM Score of B. Earnings and sales are forecasted to increase 14% and 11.7% year-over-year, respectively.

One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0 to $16.41 per share. INTU boasts an average earnings surprise of 16.2%.

Looking at cash flow, Intuit is expected to report cash flow growth of 10.1% this year; INTU has generated cash flow growth of 19.7% over the past three to five years.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, INTU should be on investors' short lists.

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Intuit Inc. (INTU) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research