Even if the long-term plan is sound, confusing the Street can carry real near-term costs. Consequently, I wonder if Intuit's (Nasdaq:INTU)
decision to shuffle some of its operations has cost it some valuation.
Then again, the stock has been pretty strong this year and is less than
10% of its 52-week high, even though its core small/medium-sized
business (SMB) market is not exactly back in full health. Whatever the
case may be, I think there is still a valid long-term thesis for buying
or holding Intuit shares, and I think the stock looks undervalued
relative to its quality.