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Call Now Intuit (News - Alert) (Nasdaq: INTU), the global technology platform that makes TurboTax, QuickBooks, Mint, and Credit Karma, along with Highline Beta, a venture studio and venture capital firm, today announced the second cohort of the Intuit Prosperity AcceleratorTM: AI. This announcement follows the recent launch of Intuit Ventures, further evolving the company's strategy to drive future innovations by supporting early to mid-stage startups. This press release features multimedia. View the full release here: https://www.Businesswire.Com/news/home/20211014005329/en/ The second cohort is comprised of seven early-stage startups from top technology hubs including San Francisco, New York, Toronto and Montreal. These companies were selected based on their ability to leverage artificial intelligence (AI) to create solutions that help consumers and small businesses overcome financial challenges. Like the startups from the inaugural program in 2020, these companies share Intuit's value of being mission-driven. Additionally, they focus on customer obsession to deliver innovative products, ideas, and results. "The rise of AI is fundamentally reshaping our world and as global economies continue to reopen, Intuit is committed to accelerating industry innovation," said David Marquis, Country Manager at Intuit Canada and executive sponsor of the Intuit Prosperity Accelerator. "It takes a community to tackle a big problem, which is why we're excited to bring together this promising group of AI innovators who share Intuit's mission of powering prosperity around the world." In an effort to fuel their growth and spur industry innovation, Intuit will partner with the cohort over a five-month period. We will coach them, provide product and technology expertise and connect them to Intuit's existing consumer and small business customers. "We're thrilled to be teaming up with Intuit to welcome these seven innovative founders and startups to this year's program," saidHussam Ayyad, Chief Accelerator Officer at Highline Beta. "The cohort addresses a wide variety of pressing challenges related to marketing, customer engagement, financial audit, consumer credit building and more. We're ready to help accelerate their growth and amplify their impact." Meet the Cohort: Adaptive Pulse (Waterloo, ON (News - Alert)) helps businesses keep a pulse on every customer while predicting and prioritizing their retention efforts, reducing churn and increasing revenues. Aphrodite (San Francisco, CA (News - Alert)) is a plug-n-play data analytics platform intended to help users drive revenue by providing financial clarity and data-driven insights to small businesses. Bankuish (New York, NY) is a marketplace that provides gig workers and freelancers a simple way to access affordable banking. Beam.City Inc (Toronto, ON) is an advertising automation platform that helps businesses optimize their performance and skyrocket profits automatically. Boom (New York, NY) is on a mission to level the playing field for the 110 million renters in the US by making housing more flexible, affordable, and attainable. QuoteMachine (Montreal, QC) is a software that brings humans back to digital commerce by helping independent retailers close more deals through simplified and personalized sales processes. Stamped AI (Quebec City, QC) is an AI platform that streamlines and automates accounting data certification, making small businesses year-end ready, all year round. The Intuit Prosperity Accelerator: AI is a five-month-long initiative, in which the selected startups will work with Intuit and Highline Beta teams to identify and test growth opportunities using Intuit's design thinking methodology, Design for Delight (D4D). The cohort will also have access to an exclusive network of mentors, investors and founders as well as the opportunity for follow-on investment from Highline Beta. For more information on the program, visit: www.Intuit.Com/ca/prosperity-accelerator. About Intuit: Intuit is a global technology platform that helps our customers and communities overcome their most important financial challenges. Serving approximately 100 million customers worldwide with TurboTax, QuickBooks, Mint and Credit Karma, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us for the latest information about Intuit, our products and services, and find us on social. About Highline Beta: Highline Beta is a venture studio and venture capital firm helping big companies grow outside of their core through organic venture development and inorganic startup partnerships. Highline Beta is Intuit's partner in the Intuit Prosperity Accelerator. Highline Beta designs, executes, and oversees the program, as well as advises on the selection of startups to participate. Learn more at Highline Beta. View source version on businesswire.Com: https://www.Businesswire.Com/news/home/20211014005329/en/ [ Back To TMCnet.Com's Homepage ]Seven AI-focused North American startups to join effort to inspire innovations that power prosperity for consumers and small businesses TORONTO, October 14, 2021--(BUSINESS WIRE)--Intuit (Nasdaq: INTU), the global technology platform that makes TurboTax, QuickBooks, Mint, and Credit Karma, along with Highline Beta, a venture studio and venture capital firm, today announced the second cohort of the Intuit Prosperity AcceleratorTM: AI. This announcement follows the recent launch of Intuit Ventures, further evolving the company’s strategy to drive future innovations by supporting early to mid-stage startups. This press release features multimedia. View the full release here: https://www.Businesswire.Com/news/home/20211014005329/en/ The second cohort is comprised of seven early-stage startups from top technology hubs including San Francisco, New York, Toronto and Montreal. These companies were selected based on their ability to leverage artificial intelligence (AI) to create solutions that help consumers and small businesses overcome financial challenges. Like the startups from the inaugural program in 2020, these companies share Intuit’s value of being mission-driven. Additionally, they focus on customer obsession to deliver innovative products, ideas, and results. "The rise of AI is fundamentally reshaping our world and as global economies continue to reopen, Intuit is committed to accelerating industry innovation," said David Marquis, Country Manager at Intuit Canada and executive sponsor of the Intuit Prosperity Accelerator. "It takes a community to tackle a big problem, which is why we’re excited to bring together this promising group of AI innovators who share Intuit’s mission of powering prosperity around the world." In an effort to fuel their growth and spur industry innovation, Intuit will partner with the cohort over a five-month period. We will coach them, provide product and technology expertise and connect them to Intuit’s existing consumer and small business customers. Story continues "We’re thrilled to be teaming up with Intuit to welcome these seven innovative founders and startups to this year’s program," said Hussam Ayyad, Chief Accelerator Officer at Highline Beta. "The cohort addresses a wide variety of pressing challenges related to marketing, customer engagement, financial audit, consumer credit building and more. We’re ready to help accelerate their growth and amplify their impact." Meet the Cohort: Adaptive Pulse (Waterloo, ON) helps businesses keep a pulse on every customer while predicting and prioritizing their retention efforts, reducing churn and increasing revenues. Aphrodite (San Francisco, CA) is a plug-n-play data analytics platform intended to help users drive revenue by providing financial clarity and data-driven insights to small businesses. Bankuish (New York, NY) is a marketplace that provides gig workers and freelancers a simple way to access affordable banking. Beam.City Inc (Toronto, ON) is an advertising automation platform that helps businesses optimize their performance and skyrocket profits automatically. Boom (New York, NY) is on a mission to level the playing field for the 110 million renters in the US by making housing more flexible, affordable, and attainable. QuoteMachine (Montreal, QC) is a software that brings humans back to digital commerce by helping independent retailers close more deals through simplified and personalized sales processes. Stamped AI (Quebec City, QC) is an AI platform that streamlines and automates accounting data certification, making small businesses year-end ready, all year round. The Intuit Prosperity Accelerator: AI is a five-month-long initiative, in which the selected startups will work with Intuit and Highline Beta teams to identify and test growth opportunities using Intuit’s design thinking methodology, Design for Delight (D4D). The cohort will also have access to an exclusive network of mentors, investors and founders as well as the opportunity for follow-on investment from Highline Beta. For more information on the program, visit: www.Intuit.Com/ca/prosperity-accelerator. About Intuit: Intuit is a global technology platform that helps our customers and communities overcome their most important financial challenges. Serving approximately 100 million customers worldwide with TurboTax, QuickBooks, Mint and Credit Karma, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us for the latest information about Intuit, our products and services, and find us on social. About Highline Beta: Highline Beta is a venture studio and venture capital firm helping big companies grow outside of their core through organic venture development and inorganic startup partnerships. Highline Beta is Intuit’s partner in the Intuit Prosperity Accelerator. Highline Beta designs, executes, and oversees the program, as well as advises on the selection of startups to participate. Learn more at Highline Beta. View source version on businesswire.Com: https://www.Businesswire.Com/news/home/20211014005329/en/ Contacts Nora Hickey, Edelman Canada (for Intuit)nora.Hickey@edelman.Com705-772-6672Intuit (INTU) closed the most recent trading day at $543.78, moving +1.65% from the previous trading session. This change lagged the S&P 500's 1.71% gain on the day. Prior to today's trading, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 6.5% over the past month. This has lagged the Computer and Technology sector's loss of 4.5% and the S&P 500's loss of 2.25% in that time. Investors will be hoping for strength from INTU as it approaches its next earnings release. In that report, analysts expect INTU to post earnings of $0.97 per share. This would mark year-over-year growth of 3.19%. Our most recent consensus estimate is calling for quarterly revenue of $1.81 billion, up 36.85% from the year-ago period. For the full year, our Zacks Consensus Estimates are projecting earnings of $11.26 per share and revenue of $11.18 billion, which would represent changes of +15.61% and +16.04%, respectively, from the prior year. It is also important to note the recent changes to analyst estimates for INTU. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. INTU currently has a Zacks Rank of #5 (Strong Sell). Valuation is also important, so investors should note that INTU has a Forward P/E ratio of 47.53 right now. This valuation marks a premium compared to its industry's average Forward P/E of 34.07. Story continues Also, we should mention that INTU has a PEG ratio of 3.21. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Software stocks are, on average, holding a PEG ratio of 2.91 based on yesterday's closing prices. The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 107, putting it in the top 43% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Zacks.Com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intuit Inc. (INTU) : Free Stock Analysis Report To read this article on Zacks.Com click here. Zacks Investment Research

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