Intuit (NASDAQ:INTU) Price Target Cut to $690.00 by Analysts at Stifel Nicolaus

Intuit (NASDAQ:INTU) had its price target decreased by stock analysts at Stifel Nicolaus from $720.00 to $690.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ target price points to a potential upside of 13.49% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Piper Sandler raised their target price on shares of Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. Morgan Stanley raised their target price on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. UBS Group raised their target price on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Finally, Oppenheimer raised their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $679.41.

Intuit Stock Up 0.2 %

Shares of NASDAQ:INTU opened at $608.00 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit has a 12 month low of $400.22 and a 12 month high of $676.62. The company has a 50-day moving average price of $634.12 and a 200 day moving average price of $622.77. The company has a market cap of $169.97 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 3.70 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period in the prior year, the company posted $7.80 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts predict that Intuit will post 11.28 earnings per share for the current year.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuit

Institutional investors and hedge funds have recently made changes to their positions in the stock. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit during the fourth quarter worth $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Intuit during the third quarter worth $26,000. West Branch Capital LLC lifted its stake in shares of Intuit by 79.2% during the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after buying an additional 19 shares during the period. MCF Advisors LLC lifted its stake in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit during the fourth quarter worth $38,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Company Profile

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 ProTax.