Intuit (NASDAQ:INTU) PT Lowered to $550.00

Intuit (NASDAQ:INTUGet Rating) had its price target lowered by stock analysts at Wells Fargo & Company from $635.00 to $550.00 in a report issued on Wednesday, The Fly reports. Wells Fargo & Company‘s price target indicates a potential upside of 53.22% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Barclays lowered their target price on Intuit from $585.00 to $480.00 and set an “overweight” rating on the stock in a report on Friday, May 20th. JPMorgan Chase & Co. reduced their price objective on shares of Intuit from $750.00 to $640.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. Credit Suisse Group cut their price target on Intuit from $600.00 to $500.00 in a report on Wednesday. Piper Sandler decreased their price objective on Intuit from $674.00 to $500.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Oppenheimer cut their price objective on shares of Intuit from $696.00 to $588.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $563.81.

Shares of INTU opened at $358.97 on Wednesday. Intuit has a fifty-two week low of $339.36 and a fifty-two week high of $716.86. The firm has a 50-day simple moving average of $438.84 and a 200-day simple moving average of $527.43. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization 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:INTUGet Rating) last issued its earnings results on Tuesday, May 24th. The software maker reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.07. Intuit had a return on equity of 20.37% and a net margin of 19.03%. The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $5.45 EPS. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. Equities research analysts forecast that Intuit will post 8.14 EPS for the current year.

In other Intuit news, EVP Laura A. Fennell sold 59,286 shares of the firm’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Alexander Chriss sold 368 shares of the stock in a transaction on Monday, February 28th. The shares were 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. 3.27% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Intuit by 3.7% during the 1st quarter. BlackRock Inc. now owns 26,048,746 shares of the software maker’s stock valued at $12,525,279,000 after acquiring an additional 919,626 shares during the period. Vanguard Group Inc. raised its position in shares of Intuit by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 24,068,193 shares of the software maker’s stock valued at $11,572,950,000 after buying an additional 1,446,489 shares in the last quarter. State Street Corp lifted its position in Intuit by 1.8% in the 1st quarter. State Street Corp now owns 11,739,798 shares of the software maker’s stock worth $5,644,964,000 after buying an additional 210,562 shares during the last quarter. Geode Capital Management LLC lifted its stake in Intuit by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 4,922,658 shares of the software maker’s stock worth $3,158,032,000 after purchasing an additional 336,690 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in Intuit by 2.8% in the first quarter. Brown Advisory Inc. now owns 3,823,715 shares of the software maker’s stock valued at $1,962,730,000 after purchasing an additional 103,642 shares during the last quarter. Institutional investors and hedge funds 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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