Is Intuit Stock a Buy, Sell, or Hold on New OpenAI Partnership?

Core Insights - OpenAI's ChatGPT is poised to significantly impact the financial industry by providing personalized assistance in areas such as tax, business, and cash flow management [1] - Financial services firms are encouraged to integrate with ChatGPT to enhance customer decision-making and unlock new growth opportunities, as demonstrated by Intuit's recent partnership [2] Company Overview - Intuit, a fintech company based in Mountain View, California, serves over 100 million customers with financial solutions, which are becoming increasingly popular due to AI integrations [4] - Intuit's notable applications include TurboTax, QuickBooks, and Credit Karma, which will now be accessible through the ChatGPT interface [3] Financial Performance - Intuit's stock has underperformed in 2023, yielding only 7.6% returns compared to the S&P 500 Index's 13.2% year-to-date gains [5] - The stock price has declined from a peak of $800 per share in July to below $675 [5] - Despite a 20% drop in stock price over six months, Intuit's valuation remains high, trading at a forward price-earnings ratio of 103.35x, significantly above its 5-year average of 46.02x [6] - The price-sales ratio of 3.19x is nearly 27% above its 5-year average, while the price-cash flow ratio of 24.89x is below the sector median of 19.32x [6]