SGGEF - Intuit: Investor Day Adds To Confidence In Buy Case

Introduction

Intuit (INTU) is one of our favourite software stocks and we initiated our coverage on the company on Seeking Alpha with a Buy recommendation last month (see "Intuit: Multi-Year Double-Digit Compounder"). The investor day held Thursday (03 Oct) provided more operational data and strategy details that add to our confidence in the Buy case, and we share the highlights below.

Reiterating Guidance

Intuit management reiterated the guidance for FY20, which included a 10-11% year-on-year revenue growth, a 10-12% (non-GAAP) EBIT growth and an 11-13% (non-GAAP) EPS growth - reassuring given