Intuit Targets $2 Trillion Construction Market With New AI Suite

Intuit Inc. (NASDAQ:INTU) is among the most profitable software stocks to buy now. On February 11, Intuit Inc. (NASDAQ:INTU) announced the launch of a construction edition for its Enterprise Suite, an AI-driven enterprise resource planning (ERP) solution for the mid-market construction space.

While integrating project, financial, and operational workflows, the new edition is aimed at the $2 trillion construction industry. From budget tracking and cost group planning to project management tools and AIA-style invoicing capabilities, the solution offers a range of features. As stated by Ashley Still, Executive Vice President and General Manager of mid-market at Intuit Inc. (NASDAQ:INTU),

“Construction businesses are naturally complex, with dozens of projects to track and ensure their profitability, rising material costs to monitor, and limited visibility into overall business and multi-entity performance.”

A day prior to this update, BMO Capital significantly reduced the price target on Intuit Inc. (NASDAQ:INTU) to $624 from $810 and maintained an Outperform rating. According to the firm, the online segment excluding “Live” features seemed “a little shakier,” which it believes is a known risk.

Intuit Inc. (NASDAQ:INTU) is a California-based company that offers products and services, including financial management, payments and capital, and marketing solutions. Founded in 1983, the company operates in four segments: Global Business Solutions, Consumer, Credit Karma, and ProTax.

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