Intuit on Wednesday launched a new online business management platform – QuickBooks Commerce –aimed to consolidate different sales channels into one central hub for small businesses.
Intuit’s (INTU) QuickBooks Commerce platform will allow small businesses to access multiple sales channels, sync inventory, manage orders and fulfilment, avoid out-of-stocks, and get profitability insights.
QuickBooks' Executive VP Alex Chriss said, "Meeting customers where they are is the new expectation, but small businesses are not set up or resourced to manage this complexity effectively. QuickBooks Commerce helps small businesses grow by helping them sell across more channels while reducing the time they spend on operations." (See INTU stock analysis on TipRanks)
On Sept. 24, Oppenheimer analyst Scott Schneeberger reiterated his Buy rating and a price target of $355 (16.4% upside potential) following the company’s annual Investor Day this week. Schneeberger said, “We anticipate Intuit delivering a multi-year double-digit adjusted EPS CAGR via high-single+ digit Consumer tax segment revenue growth, high-single+ digit revenue growth in its Small Business segment, and mid-30s margin in a status quo environment.”
Currently, the Street has a bullish outlook on the stock. The Strong Buy analyst consensus is based on 12 Buys and 3 Holds. The average price target of $377.20 implies upside potential of 23.7% to current levels. Shares have gained nearly 16.4% on a year-to-date basis.