Intuit (NASDAQ:INTU) had its price objective lowered by analysts at JPMorgan Chase & Co. from $268.00 to $249.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “underweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 4.92% from the company’s previous close.
Several other equities research analysts have also recently commented on INTU. BidaskClub upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Zacks Investment Research upgraded Intuit from a “sell” rating to a “hold” rating and set a $282.00 target price on the stock in a research note on Friday, February 28th. Barclays boosted their target price on Intuit from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. Jefferies Financial Group boosted their target price on Intuit from to and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Mizuho started coverage on Intuit in a research note on Wednesday. They issued a “buy” rating and a $280.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $289.45.
Shares of NASDAQ:INTU traded up $4.74 during trading on Thursday, hitting $237.32. 87,395 shares of the company’s stock traded hands, compared to its average volume of 2,598,270. Intuit has a 52 week low of $187.68 and a 52 week high of $306.89. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.10. The company has a market cap of $60.91 billion, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 2.91 and a beta of 0.97. The company has a 50-day moving average price of $271.78 and a 200-day moving average price of $268.06.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, February 24th. The software maker reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.14. Intuit had a return on equity of 41.03% and a net margin of 22.89%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the business posted $1.00 EPS. Intuit’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, analysts predict that Intuit will post 6.3 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of INTU. Atlas Private Wealth Management acquired a new position in Intuit in the 4th quarter valued at $26,000. Manchester Financial Inc. acquired a new position in Intuit in the 4th quarter valued at $30,000. Virtus ETF Advisers LLC acquired a new position in Intuit in the 4th quarter valued at $31,000. Ameritas Investment Company LLC grew its holdings in Intuit by 958.3% in the 4th quarter. Ameritas Investment Company LLC now owns 127 shares of the software maker’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in Intuit in the 4th quarter valued at $35,000. 87.34% of the stock is currently owned by hedge funds and other institutional investors.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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