Mon, Oct. 24, 9:10 AM
- The arrangement deepens integrations between Quickbooks Online (NASDAQ:INTU) and PayPal (NASDAQ:PYPL) in Australia, where the program was first deployed last November, and extends features to the U.S.
- Small businesses and self-employed individuals are targeted through the partnership, which highlights increasingly streamlined and faster payment capabilities.
- Intuit continues directing attention on alliances with major technology companies, having just announced a partnership similarly focused on incremental, though useful functions last Friday with Google.
Fri, Oct. 21, 3:16 PM
- Integrations between Google's (GOOG, GOOGL) G Suite (Calendar, G Suite Marketplace initially) and Intuit's (INTU +0.6%) Quickbooks Online highlighted.
- Intuit: "This is the beginning of an exciting collaboration between Intuit and Google that will deliver huge benefits for the millions of small businesses that we serve around the world. Our data indicates that 56 percent of QuickBooks customers are using Google Calendar to book appointments, schedule meetings and track client work. By bringing our technologies together, we will create important efficiencies between two solutions customers are already using."
- QuickBooks on G Suite Marketplace
- Google Calendar for QuickBooks
- Last week: Google, Salesforce plan new cloud work integrations
Wed, Oct. 5, 8:29 AM
Tue, Sep. 13, 10:39 AM
- Analyst Keith Weiss moves from a previous rating of Equal weight. Maintains $105 price target (current price $107.02).
- While acknowledging the feasibility of FY 2017 operating margin of 33%-34% (company guidance), he projects margin expansion beyond FY 2018 to slow.
- Intuit (INTU -2.1%) is presently trading down 4% since last Wednesday and 5.25% on the month.
Tue, Aug. 23, 5:35 PM
Tue, Aug. 23, 4:52 PM
- QuickBooks Online counted 1.5M subscribers (41% increase), total Small Business segment revenue grew 10% sequentially (9% on the year) and Consumer Tax segment revenue increased 10% on the year.
- Projects Q1 2017 revenue of $740M-$760M (+4%-7%), operating income of $10M-$20M, EPS of $0.01-$0.03 and ending Quickbooks Online subscribers of 1.6M. Projects FY 2017 revenue of $5B-$5.1B (+7%-9%), operating income of $1.675B-$1.725B (+8%-11%), EPS of $4.30-$4.40 (+14%-16%) and QuickBooks Online subscribers of 2M-2.2M. FY 2017 Small Business and Consumer Tax segment revenues are expected to grow 9%-11% and 6%-8%, respectively. ProConnect segment revenue is expected to decrease 1%-3$.
- Intuit (NASDAQ:INTU) chairman and CEO, Brad Smith: "One of our strategic goals is to be the operating system behind small business success, and our small business ecosystem remains vibrant. Total QuickBooks Online subscribers grew to more than 1.5 million, and small business online ecosystem revenue grew 25 percent for the year. Our tax businesses had another strong year, turning up the innovation machine to compete effectively in the marketplace."
- Conference call
- Press release
- Fact sheet
Tue, Aug. 23, 4:02 PM
Mon, Aug. 22, 5:35 PM
Fri, Jun. 24, 10:34 AM
- After a historic Brexit vote, Brean Capital is looking at software stocks in terms of their exposure to the continent and Britain.
- The vote means near-term volatility for currency rates, Yun Kim notes, that could have an outsize impact on companies with stronger exposure outside America.
- Meanwhile, companies like Intuit (INTU -2.8%) have a stronger U.S. element in their revenue mix. “We note that INTU has the least amount of exposure outside of the U.S. (less than 5% of revenue), with MANH [Manhattan Associates, -3.6%] and CRM [Salesforce.com, -2.9%] having less than 10% exposure in the U.K. based on our estimates,” Yun Kim writes.
- Meanwhile, companies like MicroStrategy (MSTR -3.2%) have 15% exposure to the UK and 30% to Europe; Qlik Technologies (QLIK -1.1%) has 10% exposure to the UK and 49% to Europe, and Varonis Systems (VRNS -5.1%) has 18% exposure to the UK and 35% to Europe.
- Holding Buy ratings from Brean: Salesforce.com (price target of $110, implying 38% upside); Intuit (price target of $130, implying 22.7% upside); Manhattan Associates (price target of $75, implying 17.7% upside); and Varonis (price target of $35, implying 43.6% upside).
Thu, Jun. 23, 3:08 PM
- Intuit (NASDAQ:INTU) is up 1.9% today and inching just pennies away from a new 52-week high after Goldman Sachs added the stock to its Conviction Buy list for the Americas.
- A strong tax season (the company's key quarter) brought a beat-and-raise last month, but with that in the rear-view mirror, Goldman's Jesse Hulsing is looking at the company's small-business segment for the second half.
- Hulsing raised the firm's price target to $123 from $117, implying 13.4% upside.
- “After further analysis of retention trends and country-by-country growth expectations, we are more confident in the company’s ability to accelerate net add growth and meet or exceed the mid-point of its 2 million–2.2 million FY17 subscriber guidance,” Hulsing writes.
Tue, May 24, 4:18 PM
- Intuit (NASDAQ:INTU) is up 2.6% following its report of tax-season earnings where it beat on top and bottom lines and boosted its full-year guidance after a "great" season for TurboTax.
- Revenue breakout: Product, $459M (up 3.8%); Service and other, $1.85B (up 9%).
- In segments, Small Business revenue grew 12% and online ecosystem revenue was up 24%. QuickBooks customers grew 16%. In Consumer and Professional Tax, Consumer Tax revenue grew 7% and prompted the company to expect full-year growth of 9%; TurboTax gained share for the third year, bringing total software category share to 65%.
- For Q4, the company sees revenues of $720M-$740M (above consensus for $717.5M) and non-GAAP EPS of break-even (vs. consensus for -$0.01).
- For the full year, it raised estimates across the board: to revenues of $4.66B-$4.68B (growth of 11-12%, and vs. consensus of $4.61B); for operating income (non-GAAP) of $1.49B-$1.51B (growth of 31-32%); and non-GAAP EPS of $3.63-$3.65 (growth of 40-41%, and vs. an expected $3.51).
- Conference call to come at 4:30 p.m. ET.
- Press Release
Tue, May 24, 4:01 PM
Mon, May 23, 5:35 PM
Mon, May 23, 4:28 PM
- Intuit (INTU +1.5%) gained today, and NetSuite (N -0.8%) declined, after Goldman Sachs saw them going in different directions in a launch of enterprise software coverage.
- The firm's analyst Jesse Hulsing also likes Cornerstone OnDemand (CSOD -0.2%) as a winner in that sector (and Intuit has gotten praise at Goldman for election/tax reasons as well): "We see the most opportunity at the lowest end of the market, where we believe market expansion is occurring for INTU. We also rate CSOD a Buy due to improving underlying fundamentals, M&A optionality, and what we view as an attractive valuation."
- NetSuite is a Sell, though, "on organic billings/bookings deceleration and risk that 2017 consensus estimates are too high." Analysts expect the company to record EPS of $0.72 for 2017 along with revenues of $1.228B.
- Now read Not Even A Buyout Justifies Cornerstone OnDemand's Valuation »
Mon, May 23, 12:39 PM
- "Politics is now a topic in every client discussion," say David Kostin and team, and the nature of today's electorate nearly assures a close race, even though prediction markets currently assign a high probability of a Clinton victory.
- When uncertainty rises, consumer staples (NYSEARCA:XLP) typically outperforms, while tech (NYSEARCA:XLK) lags.
- Getting down to names, with protectionism and tax policy two key areas of debate, buy those stocks with high U.S. sales and high effective tax rates, and avoid those with high foreign sales and low tax rates.
- High U.S. sales and high tax rates (buy): Cardinal Health (NYSE:CAH), Fidelity National (NYSE:FIS), Discover (NYSE:DFS), AmerisourceBergen (NYSE:ABC), Schwab (NYSE:SCHW), ADP (NASDAQ:ADP), Chipotle (NYSE:CMG), Reynolds America (NYSE:RAI), Express Scripts (NASDAQ:ESRX), Alliance Data (NYSE:ADS), Fiserv (NASDAQ:FISV), Paychex (NASDAQ:PAYX), Whole Foods (NASDAQ:WFM), Akamai (NASDAQ:AKAM), Intuit (NASDAQ:INTU), Southwest Airlines (NYSE:LUV).
- High foreign sales and low tax rates (avoid): Abbott Labs (NYSE:ABT), Agilent (NYSE:A), Mondelez (NASDAQ:MDLZ), XL Group (NYSE:XL), Waters (NYSE:WAT), Priceline (NASDAQ:PCLN), Transocean (NYSE:RIG), PerkinElmer (NYSE:PKI), Nvidia (NASDAQ:NVDA), Lam Research (NASDAQ:LRCX), Western Digital (NASDAQ:WDC).
Tue, Mar. 8, 1:30 PM
- Less than a week after disclosing P-E firm H.I.G. Capital is buying its Quicken unit, Intuit (INTU +0.7%) states P-E firm WCAS is buying its QuickBase custom business app unit. The deal is expected to close in 1H16.
- Terms are once more undisclosed; Intuit has said it expects to reap ~$500M in combined proceeds from the sale of QuickBase, Quicken, and Demandware, the last of which has been sold to Internet Brands.
- QuickBase had FY15 (ended last July) revenue of more than $70M, and claims over 6K customers (including over half the Fortune 100).