Intuit (NASDAQ:INTU) Stock Price Expected to Rise, Oppenheimer Analyst Says

Intuit (NASDAQ:INTU) had its price target raised by Oppenheimer from $642.00 to $742.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

Several other research firms have also issued reports on INTU. The Goldman Sachs Group upped their target price on Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a report on Monday. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. KeyCorp upped their price objective on Intuit from $770.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday. Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Finally, Stifel Nicolaus upped their target price on Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $785.33.

Intuit Stock Performance

INTU opened at $720.13 on Friday. Intuit has a 52-week low of $532.65 and a 52-week high of $734.18. The firm has a market capitalization of $201.32 billion, a PE ratio of 69.92, a PEG ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business’s 50-day simple moving average is $616.76 and its 200 day simple moving average is $621.21.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the company posted $9.88 earnings per share. Intuit’s revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts expect that Intuit will post 14.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 in the last three months. Insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INTU. Peloton Wealth Strategists grew its holdings in Intuit by 0.3% during the 1st quarter. Peloton Wealth Strategists now owns 4,414 shares of the software maker’s stock worth $2,710,000 after acquiring an additional 15 shares during the period. Decatur Capital Management Inc. grew its holdings in Intuit by 0.3% during the 1st quarter. Decatur Capital Management Inc. now owns 4,999 shares of the software maker’s stock worth $3,069,000 after acquiring an additional 16 shares during the period. True North Advisors LLC grew its holdings in Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after acquiring an additional 17 shares during the period. Great Diamond Partners LLC grew its holdings in Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after acquiring an additional 17 shares during the period. Finally, Drive Wealth Management LLC grew its holdings in Intuit by 2.4% during the 4th quarter. Drive Wealth Management LLC now owns 760 shares of the software maker’s stock worth $478,000 after acquiring an additional 18 shares during the period. 83.66% of the stock is owned by institutional investors.

Intuit Company Profile

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.