Jim Cramer on Intuit: "I'd Be a Buyer Right Here, Right Now"

Intuit Inc. (NASDAQ:INTU) is one of the software stocks that Jim Cramer named as potential undervalued buys. Cramer said that the stock’s sell-off “doesn’t make much sense,” as he remarked:

What else? Okay, here’s one that I’m happy to buy. It’s Intuit, the company behind TurboTax and QuickBooks, with a stock that’s down more than 45% from its high, trading at just around 19 times this year’s earnings estimates. One of the great growth stocks of our era. I mean, this sell-off doesn’t make much sense.

Much of TurboTax is geared toward the consumer. The AI threat for that is therefore minimal. The rest of their software is geared to small and medium sized business, the kind of companies [that] really can’t afford to develop their own software internally, even with the help of AI. I think this one’s a baby that’s been thrown out with the bathwater, and I’d be a buyer right here, right now.

Intuit Inc. (NASDAQ:INTU) provides financial management, tax preparation, marketing, and personal finance solutions.

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Disclosure: None. This article is originally published at Insider Monkey.