Tiger Brokers

BUZZ-Street View: Intuit's Mailchimp drag to weigh on near-term growth

Reuters
Aug 22
BUZZ-Street View: Intuit's Mailchimp drag to weigh on near-term growth

** Intuit INTU.O forecast first-quarter revenue growth below analysts' estimates on Thursday, hit by sluggish performance at its marketing platform Mailchimp

** Shares down 6.1% at $655 premarket

LONG-TERM TRENDS INTACT

** J.P.Morgan ("overweight," PT: $750) expects Mailchimp to weigh on growth in the near term

** BofA Global Research ("buy," PO: $800) says "a fix to lagging Mailchimp is not in sight"; notes Mailchimp provides a mere 1.5% headwind to co's overall business solution growth

** Evercore ISI ("outperform," PT: $875) says despite relative disappointment from the earnings print, the long-term trends in the business remain intact

** Barclays ("overweight," PT: $785) remains positive on co with AI-driven products boosting prices and steady volumes

(Reporting by Kanchana Chakravarty in Bengaluru)

((Kanchana.Chakravarty@thomsonreuters.com))

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