Intuit (NASDAQ:INTU) had its price objective boosted by stock analysts at Morgan Stanley from $290.00 to $315.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price objective points to a potential downside of 6.37% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. 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. 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. 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. KeyCorp lifted their target price on shares of Intuit from $315.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Royal Bank of Canada lifted their target price on shares of Intuit from $280.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $337.88.
INTU stock opened at $336.42 on Wednesday. The firm has a 50 day moving average price of $303.91 and a 200-day moving average price of $280.29. Intuit has a 52-week low of $187.68 and a 52-week high of $337.37. The firm has a market capitalization of $86.87 billion, a price-to-earnings ratio of 66.36, a PEG ratio of 3.81 and a beta of 1.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.79 and a current ratio of 1.79.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 25th. The software maker reported $1.81 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.57 billion. The business’s revenue was up 81.1% on a year-over-year basis. During the same period last year, the business earned ($0.09) earnings per share. As a group, sell-side analysts forecast that Intuit will post 5.98 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Harvest Group Wealth Management LLC bought a new position in Intuit in the 2nd quarter worth about $25,000. Financial Management Professionals Inc. bought a new position in Intuit in the 2nd quarter worth about $26,000. Creative Financial Designs Inc. ADV bought a new position in Intuit in the 2nd quarter worth about $27,000. Laurel Wealth Advisors LLC grew its stake in Intuit by 50.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Finally, Cognios Capital LLC purchased a new stake in shares of Intuit in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 86.12% of the company’s stock.
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.
See Also: Sell-Side Analysts
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