Analyst Note
| Julie Bhusal Sharma |On Sept. 13, wide-moat Intuit confirmed the rumored acquisition of Mailchimp for a total consideration of $12 billion in cash and stock, which we believe will ultimately prove value-accretive for the small business software powerhouse. Considering the synergies from the deal and Mailchimp’s profitability, we are increasing our fair value estimate for Intuit to $424 from $403, but still recommend waiting for a pullback before investing in Intuit.