Wells Fargo & Company Lowers Intuit (NASDAQ:INTU) Price Target to $635.00

Intuit (NASDAQ:INTUGet Rating) had its price objective reduced by Wells Fargo & Company from $725.00 to $635.00 in a report issued on Monday, The Fly reports. Wells Fargo & Company‘s price target suggests a potential upside of 43.25% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Mizuho lowered their target price on Intuit from $730.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. StockNews.com initiated coverage on Intuit in a report on Thursday, March 31st. They set a “hold” rating for the company. KeyCorp decreased their price objective on Intuit from $700.00 to $600.00 and set an “overweight” rating for the company in a report on Monday, February 28th. Bank of America decreased their price objective on Intuit from $750.00 to $650.00 and set a “buy” rating for the company in a report on Friday, February 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Intuit from $750.00 to $640.00 and set an “overweight” rating for the company in a report on Friday, February 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of “Buy” and a consensus price target of $613.95.

Shares of INTU stock opened at $443.29 on Monday. The company has a market cap of $125.37 billion, a P/E ratio of 56.54, a PEG ratio of 3.72 and a beta of 1.12. The stock has a 50 day simple moving average of $473.79 and a two-hundred day simple moving average of $556.65. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18. Intuit has a fifty-two week low of $385.66 and a fifty-two week high of $716.86.

Intuit (NASDAQ:INTUGet Rating) last issued its earnings results on Thursday, February 24th. The software maker reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.26). The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.72 billion. Intuit had a return on equity of 20.37% and a net margin of 19.03%. The company’s revenue for the quarter was up 69.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 earnings per share. On average, research analysts predict that Intuit will post 8.14 earnings per share for the current year.

In other news, EVP James Alexander Chriss sold 368 shares of the company’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $478.84, for a total value of $176,213.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 59,286 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $475.03, for a total value of $28,162,628.58. The disclosure for this sale can be found here. Insiders own 3.27% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. JNBA Financial Advisors purchased a new position in shares of Intuit in the 4th quarter worth about $25,000. Mascoma Wealth Management LLC boosted its holdings in shares of Intuit by 3,900.0% in the 4th quarter. Mascoma Wealth Management LLC now owns 40 shares of the software maker’s stock worth $26,000 after purchasing an additional 39 shares in the last quarter. Baillie Gifford & Co. purchased a new position in shares of Intuit in the 4th quarter worth about $30,000. Princeton Global Asset Management LLC boosted its holdings in Intuit by 66.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 50 shares of the software maker’s stock valued at $27,000 after acquiring an additional 20 shares during the period. Finally, Comprehensive Financial Consultants Institutional Inc. purchased a new stake in Intuit during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 81.40% of the company’s stock.

Intuit Company Profile (Get Rating)

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProConnect.

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