This Beaten-Down Growth Stock Has Up to 60% Upside, According to Wall Street
Like many technology stocks, Intuit (NASDAQ: INTU) has gotten clobbered this year. The fintech company has lost nearly 40% of its value. Weighing on shares are concerns that a weakening macroeconomic environment will impact the company's growth prospects.
With some of those fears coming to fruition, many analysts are growing cautious about the company's near-term stock price upside potential. However, they still see a significant upside opportunity from here of as much as 60%. The company agrees that the market isn't fully valuing its shares, given its sizable repurchase program.
Intuit's global financial technology platform primarily caters to small-and-midsized businesses (SMBs) and consumers. Those groups tend to become more cautious and slow spending at the first whiff of an economic downturn.
Source Fool.com
