Intuit (NASDAQ:INTU) Price Target Lowered to $475.00 at BMO Capital Markets

Intuit (NASDAQ:INTU – Get Rating) had its price objective lowered by BMO Capital Markets from $550.00 to $475.00 in a research report issued to clients and investors on Wednesday, The Fly reports. BMO Capital Markets’ price objective would indicate a potential upside of 32.32% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Intuit from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Piper Sandler cut their price target on Intuit from $674.00 to $500.00 and set an “overweight” rating on the stock in a research note on Wednesday. KeyCorp reduced their price objective on shares of Intuit from $600.00 to $500.00 and set an “overweight” rating for the company in a research report on Wednesday. Oppenheimer reduced their target price on Intuit from $696.00 to $588.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Finally, Credit Suisse Group decreased their price target on shares of Intuit from $600.00 to $500.00 in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $563.81.

Shares of NASDAQ INTU opened at $358.97 on Wednesday. Intuit has a 52-week low of $339.36 and a 52-week high of $716.86. The company’s 50-day simple moving average is $438.84 and its 200-day simple moving average is $527.43. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. The firm has a market cap of $101.52 billion, a price-to-earnings 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 issued its earnings results on Tuesday, May 24th. The software maker reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.58 by $0.07. Intuit had a return on equity of 20.37% and a net margin of 19.03%. The company had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the business earned $5.45 EPS. The firm’s quarterly revenue was up 35.0% on a year-over-year basis. Equities research analysts anticipate that Intuit will post 8.14 EPS for the current fiscal 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 transaction of $176,213.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 59,286 shares of the company’s stock in a transaction that occurred on 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. 3.27% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. JNBA Financial Advisors bought a new position in Intuit in the 4th quarter valued at about $25,000. Castleview Partners LLC bought a new stake in Intuit in the 4th quarter valued at $25,000. Mascoma Wealth Management LLC increased its position in Intuit by 3,900.0% during the 4th quarter. Mascoma Wealth Management LLC now owns 40 shares of the software maker’s stock worth $26,000 after buying an additional 39 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Intuit during the fourth quarter worth $26,000. Finally, San Luis Wealth Advisors LLC bought a new stake in shares of Intuit in the first quarter valued at about $26,000. Hedge funds and other institutional investors own 83.42% 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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