According to S&P Global Market Intelligence, Intuit shares rose 24% in October as investors rotated out of AI stocks into beaten-down names in other sectors, including Intuit, which had underperformed on concerns AI could disrupt it. The main catalyst was Intuit's acquisition of Sequence, a revenue management company that automates the quote-to-revenue process and is expected to complement QuickBooks and Enterprise Suite; the stock jumped 6.4% on October 15. Intuit also rolled out upgrades to its Intuit Intelligence platform, including industry-specific editions of Enterprise Suite. Despite the rebound, the stock is still down 48% this year, with a price-to-earnings ratio of about 21, as growth has slowed and earnings per share are expected to fall in the new fiscal year. The author argues that if Intuit can use these tools to restore profit growth, the stock could keep rising.
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