2024-07-26 15:57:34 ET
Summary
- Intuit's share price is trading at unsustainable levels after returning nearly 30% over the past year.
- Current multiples already price-in significant improvement in margins at a time when certain macro tailwinds are fading.
- Revenue growth is also normalizing and in my opinion, Intuit's management is likely to resort to riskier M&A activities to sustain it.
Intuit Inc.'s ( INTU ) stock has been among the biggest beneficiaries of the recent drop in the term premium in early November of last year, which marked a peak in U.S. Treasury yields....
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Intuit: Significant Progress Is Needed To Justify Current Share Price