Intuit Inc. (INTU) shares surged Friday after the financial software company delivered fiscal first-quarter results that showed its bet on artificial intelligence is paying off faster than expected.

The earnings beat came with an intriguing subplot: millions of customers are actually using Intuit's AI features, not just tolerating them. That's the kind of adoption that gets Wall Street excited about growth trajectories.

What the Analysts Are Saying

Goldman Sachs analyst Kash Rangan kept his Buy rating and $680 price target intact, calling the results "solid" with revenue beating consensus by 3%. He noted "broad-based momentum" across Intuit's business lines, with about 2.8 million customers now leveraging AI agents across Accounting, Payments, and Payroll. The AI execution, Rangan argues, could "reinvigorate the company's growth algorithm in the years ahead."

RBC Capital Markets analyst Rishi Jaluria maintained his Outperform rating with an $850 price target. He highlighted the 18% year-over-year revenue climb to $3.885 billion (versus consensus of $3.756 billion) and non-GAAP earnings of $3.34 per share (beating expectations of $3.09). Intuit achieved "a strong start to fiscal 2026, with broad-based 18% revenue growth, continued momentum across the Online Ecosystem, and solid contributions from both small business and consumer," Jaluria wrote. The company held its full-year guidance, reflecting confidence in durable demand, increasing platform adoption, and improving AI-driven efficiencies.

BofA Securities analyst Brad Sills reaffirmed his Buy rating with an $800 price target, noting the results ease concerns about soft growth in the Global Business Solutions segment. The upside was "multi-pronged, across premium mix, subscriber growth and the move up market," he explained. Even though the first quarter is typically light for tax season, TurboTax Live posted 51% revenue growth. Sills sees accelerating growth ahead, driven by the mid-market opportunity for QuickBooks, the shift to assisted tax services, and monetization of new AI features.

The Bottom Line

Intuit is demonstrating that AI adoption isn't just a buzzword on earnings calls—it's translating into measurable customer engagement and revenue growth. With nearly 3 million customers actively using AI tools and analysts projecting continued momentum, the company's strategy appears to be working exactly as management hoped.

Shares of Intuit rose 4.16% to $663.96 at the time of publication Friday.