CRM - Intuit: Unlocking Growth Opportunity Through Xero Acquisition
Thesis
Through their flagship products such as TurboTax and QuickBooks, Intuit (INTU) has been the dominant accounting and tax preparation software providers in United States. Xero (OTCMKTS: XROLF), on the other hand, started out in New Zealand and Australia as a small business accounting software provider in 2008 and expanded into United States in 2011.
We see Intuit as a growth stock. However, as the company expects to grow slower in the next 12 months, entering the emerging market could provide a reasonable way to unlock growth opportunity. This is why we believe