Intuit (NASDAQ:INTU) Price Target Cut to $500.00 by Analysts at Credit Suisse Group

Intuit (NASDAQ:INTU – Get Rating) had its price objective dropped by investment analysts at Credit Suisse Group from $600.00 to $500.00 in a research note issued on Wednesday, The Fly reports. Credit Suisse Group’s price objective indicates a potential upside of 39.29% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Citigroup assumed coverage on shares of Intuit in a research report on Tuesday, February 1st. They set a “buy” rating and a $625.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intuit from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Morgan Stanley reduced their price target on Intuit from $720.00 to $550.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. Wolfe Research dropped their price objective on Intuit from $790.00 to $600.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Finally, Evercore ISI reduced their target price on Intuit from $720.00 to $645.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $578.33.

INTU stock opened at $358.97 on Wednesday. The company has a 50 day moving average price of $438.84 and a 200 day moving average price of $527.43. Intuit has a fifty-two week low of $339.36 and a fifty-two week high of $716.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $101.52 billion, a PE ratio of 45.79, a price-to-earnings-growth ratio of 2.89 and a beta of 1.16.

Intuit (NASDAQ:INTU – Get Rating) last released its earnings results on Tuesday, May 24th. The software maker reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.07. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.51 billion. Intuit had a return on equity of 20.37% and a net margin of 19.03%. The firm’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.45 earnings per share. As a group, equities analysts expect that Intuit will post 8.14 earnings per share for the current fiscal year.

In other news, EVP Laura A. Fennell sold 59,286 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders own 3.27% of the company’s stock.

Several large investors have recently added to or reduced their stakes in INTU. JSF Financial LLC lifted its stake in Intuit by 2.9% in the fourth quarter. JSF Financial LLC now owns 675 shares of the software maker’s stock valued at $434,000 after acquiring an additional 19 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in Intuit by 0.7% in the 4th quarter. Segall Bryant & Hamill LLC now owns 2,601 shares of the software maker’s stock valued at $1,672,000 after purchasing an additional 19 shares during the last quarter. Hixon Zuercher LLC grew its holdings in Intuit by 2.4% during the fourth quarter. Hixon Zuercher LLC now owns 850 shares of the software maker’s stock worth $547,000 after purchasing an additional 20 shares during the period. FineMark National Bank & Trust increased its position in Intuit by 2.1% during the fourth quarter. FineMark National Bank & Trust now owns 959 shares of the software maker’s stock worth $617,000 after buying an additional 20 shares during the last quarter. Finally, Oakworth Capital Inc. raised its stake in Intuit by 2.3% in the fourth quarter. Oakworth Capital Inc. now owns 982 shares of the software maker’s stock valued at $632,000 after buying an additional 22 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

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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