Intuit (NASDAQ:INTU) PT Raised to $405.00

Intuit (NASDAQ:INTU) had its target price hoisted by equities researchers at Stifel Nicolaus from $300.00 to $405.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ target price points to a potential upside of 20.39% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of Intuit from a “hold” rating to a “sell” rating in a research report on Thursday, August 13th. Jefferies Financial Group raised their price target on shares of Intuit from $340.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho raised their price target on shares of Intuit from $330.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America raised their price target on shares of Intuit from $270.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Finally, Morgan Stanley reissued a “hold” rating and set a $290.00 price target on shares of Intuit in a research report on Tuesday, August 18th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. Intuit has an average rating of “Hold” and a consensus price target of $329.24.

INTU opened at $336.42 on Wednesday. Intuit has a twelve month low of $187.68 and a twelve month high of $337.37. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $303.91 and a 200-day moving average of $280.29. The stock has a market cap of $86.87 billion, a PE ratio of 66.36, a price-to-earnings-growth ratio of 3.81 and a beta of 1.03.

Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, August 25th. The software maker reported $1.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.95. Intuit had a net margin of 19.50% and a return on equity of 32.03%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm earned ($0.09) earnings per share. Intuit’s revenue was up 81.1% on a year-over-year basis. Sell-side analysts anticipate that Intuit will post 5.98 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bridges Investment Management Inc. increased its stake in shares of Intuit by 3.3% in the second quarter. Bridges Investment Management Inc. now owns 1,154 shares of the software maker’s stock worth $342,000 after purchasing an additional 37 shares in the last quarter. Assetmark Inc. increased its stake in shares of Intuit by 6.9% in the second quarter. Assetmark Inc. now owns 574 shares of the software maker’s stock worth $170,000 after purchasing an additional 37 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Intuit by 0.6% in the second quarter. Cresset Asset Management LLC now owns 6,609 shares of the software maker’s stock worth $1,957,000 after purchasing an additional 39 shares in the last quarter. Laurel Wealth Advisors LLC increased its stake in shares of Intuit by 50.0% in the first quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Finally, Partnervest Advisory Services LLC increased its stake in shares of Intuit by 4.2% in the second quarter. Partnervest Advisory Services LLC now owns 1,055 shares of the software maker’s stock worth $313,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 86.12% of the company’s stock.

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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