Intuit Shares Attractive as its Innovation Levels Prove That Maturity Doesn't Always Come With Age

Despite Intuit being nearly 40 years old, the wide-moat company continues to innovate its core and seek relevant, synergistic greenfield opportunities, turning what would have otherwise been a maturing tax and small business accounting industry on its head. Intuit's focus and strategy helped lead to third-quarter Intuit results which exceeded our expectations on the top and bottom line, beyond the already hefty growth we factored in from a more condensed tax season. In a vote of confidence, Intuit increased its revenue and non-GAAP EPS guidance for the full year. All in all, we're confident in our maintained fair value estimate of $511 per share. Intuit remains the dominant consumer do-it-yourself tax and small business accounting software vendor, with no close competitors in sight and compelling areas of greenfield opportunity—like the personal finance sphere, which we expect to grow at a robust pace.