Intuit (NASDAQ:INTU – Get Free Report) had its target price increased by stock analysts at Evercore ISI from $505.00 to $530.00 in a research report issued to clients and investors on Friday, Marketbeat reports. The firm presently has an “outperform” rating on the software maker’s stock. Evercore ISI’s target price indicates a potential upside of 2.11% from the stock’s current price.
Other research analysts have also issued reports about the stock. Barclays increased their target price on shares of Intuit from $495.00 to $570.00 and gave the stock an “overweight” rating in a research note on Friday, August 18th. Wells Fargo & Company increased their target price on shares of Intuit from $525.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 22nd. Piper Sandler increased their target price on shares of Intuit from $497.00 to $528.00 and gave the stock an “overweight” rating in a research note on Friday. Credit Suisse Group increased their target price on shares of Intuit from $500.00 to $570.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, StockNews.com started coverage on shares of Intuit in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $531.14.
Check Out Our Latest Report on Intuit
Intuit Trading Up 4.1 %
Intuit (NASDAQ:INTU – Get Free Report) last posted its quarterly earnings data on Thursday, August 24th. The software maker reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.22. Intuit had a net margin of 16.59% and a return on equity of 16.80%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm posted $0.22 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts expect that Intuit will post 10.41 earnings per share for the current year.
Insiders Place Their Bets
In other Intuit news, EVP Laura A. Fennell sold 53,741 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $450.96, for a total transaction of $24,235,041.36. Following the completion of the transaction, the executive vice president now owns 39,896 shares in the company, valued at $17,991,500.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Michelle M. Clatterbuck sold 1,412 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $452.74, for a total value of $639,268.88. Following the completion of the transaction, the chief financial officer now directly owns 1,350 shares in the company, valued at $611,199. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 53,741 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $450.96, for a total transaction of $24,235,041.36. Following the completion of the sale, the executive vice president now directly owns 39,896 shares in the company, valued at $17,991,500.16. The disclosure for this sale can be found here. Company insiders own 3.18% of the company’s stock.
Institutional Investors Weigh In On Intuit
Institutional investors and hedge funds have recently bought and sold shares of the stock. Aspire Private Capital LLC purchased a new stake in Intuit in the first quarter valued at approximately $12,037,410,000. HHM Wealth Advisors LLC purchased a new stake in Intuit in the first quarter valued at approximately $25,000. Raleigh Capital Management Inc. raised its stake in Intuit by 100.0% in the first quarter. Raleigh Capital Management Inc. now owns 58 shares of the software maker’s stock valued at $26,000 after purchasing an additional 29 shares in the last quarter. Activest Wealth Management purchased a new position in shares of Intuit during the first quarter worth approximately $27,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Intuit during the first quarter worth approximately $29,000. 82.51% of the stock is owned by hedge funds and other institutional investors.
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 ProConnect.
Featured Stories
- Five stocks we like better than Intuit
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- 2 Stocks to Get You Ready for the Holiday Season
- Roth IRA Calculator: Calculate Your Potential Returns
- Profit Potential: 5 Undervalued Stocks With High Dividend Yields
- The “How” and “Why” of Investing in 5G Stocks
- MarketBeat Week in Review – 8/21 – 8/25
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.
