Intuit (NASDAQ:INTU) Updates Q2 Earnings Guidance

Intuit (NASDAQ:INTU) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $2.55-2.61 for the period, compared to the consensus earnings per share estimate of $3.25. The company issued revenue guidance of $3.812-3.845 billion, compared to the consensus revenue estimate of $3.88 billion. Intuit also updated its FY25 guidance to $19.16-19.36 EPS.

Analyst Ratings Changes

A number of equities analysts have issued reports on INTU shares. Scotiabank started coverage on Intuit in a report on Monday. They set a “sector perform” rating and a $700.00 target price on the stock. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets lifted their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, Bank of America raised their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.06.

Intuit Stock Up 4.3 %

Shares of INTU traded up $28.10 during mid-day trading on Thursday, hitting $678.70. The company’s stock had a trading volume of 2,260,463 shares, compared to its average volume of 1,348,630. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average is $634.46 and its 200-day moving average is $630.89. Intuit has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a market capitalization of $190.12 billion, a price-to-earnings ratio of 62.26, a PEG ratio of 3.15 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. On average, equities research analysts forecast that Intuit will post 14.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The trade was a 36.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 in the last 90 days. Insiders own 2.90% of the company’s stock.

About Intuit

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.