Intuit (INTU) Price Target Increased to $163.00 by Analysts at JPMorgan Chase & Co.

Intuit (NASDAQ:INTU) had its price target lifted by investment analysts at JPMorgan Chase & Co. to $163.00 in a research report issued on Thursday, January 4th. The firm presently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.’s target price indicates a potential downside of 0.31% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Citigroup increased their target price on shares of Intuit to $170.00 in a research note on Tuesday, November 21st. Argus started coverage on shares of Intuit in a report on Wednesday, September 20th. They set a “buy” rating and a $165.00 price target for the company. Moffett Nathanson started coverage on shares of Intuit in a report on Thursday, September 7th. They set a “buy” rating and a $150.00 price target for the company. Jefferies Group reissued a “buy” rating and set a $185.00 price target on shares of Intuit in a report on Tuesday, November 21st. Finally, Oppenheimer reissued a “buy” rating and set a $166.00 price target (up from $159.00) on shares of Intuit in a report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. Intuit presently has an average rating of “Hold” and a consensus price target of $157.53.

Intuit (INTU) opened at $163.51 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.35. Intuit has a twelve month low of $111.90 and a twelve month high of $165.13. The company has a market capitalization of $41,800.00, a price-to-earnings ratio of 43.26, a P/E/G ratio of 2.95 and a beta of 1.18.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company had revenue of $886.00 million during the quarter, compared to the consensus estimate of $855.74 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Intuit’s revenue for the quarter was up 13.9% on a year-over-year basis. equities analysts expect that Intuit will post 3.95 EPS for the current fiscal year.

In other Intuit news, EVP Henry Tayloe Stansbury sold 2,158 shares of Intuit stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $158.94, for a total value of $342,992.52. Following the transaction, the executive vice president now owns 3,050 shares in the company, valued at approximately $484,767. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Scott D. Cook sold 183,334 shares of Intuit stock in a transaction on Friday, November 24th. The shares were sold at an average price of $151.46, for a total transaction of $27,767,767.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 965,938 shares of company stock worth $149,469,127. 5.59% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in INTU. Exane Derivatives acquired a new position in shares of Intuit in the 3rd quarter valued at $105,000. Captrust Financial Advisors acquired a new position in shares of Intuit in the 2nd quarter valued at $108,000. Horan Capital Advisors LLC. acquired a new position in shares of Intuit in the 3rd quarter valued at $114,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Intuit in the 2nd quarter valued at $140,000. Finally, ETF Managers Group LLC acquired a new position in shares of Intuit during the 2nd quarter valued at $140,000. Institutional investors own 86.03% of the company’s stock.

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Intuit Company Profile

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

Analyst Recommendations for Intuit (NASDAQ:INTU)

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