Citigroup Lowers Intuit (NASDAQ:INTU) Price Target to $272.00

Intuit (NASDAQ:INTU) had its price objective lowered by investment analysts at Citigroup from $312.00 to $272.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Citigroup‘s target price would suggest a potential upside of 7.89% from the company’s previous close.

INTU has been the subject of a number of other research reports. Barclays lifted their target price on shares of Intuit from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Morgan Stanley lowered their target price on shares of Intuit from $254.00 to $253.00 and set an “equal weight” rating for the company in a research note on Friday, April 3rd. Credit Suisse Group lifted their target price on shares of Intuit from to in a research note on Tuesday, February 25th. UBS Group lifted their target price on shares of Intuit from $285.00 to $303.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Finally, Bank of America lifted their target price on shares of Intuit from to and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $297.53.

NASDAQ:INTU traded up $6.17 on Tuesday, hitting $252.10. The company had a trading volume of 1,646,849 shares, compared to its average volume of 1,719,200. The stock has a market capitalization of $62.45 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 2.99 and a beta of 1.01. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $254.25 and a two-hundred day moving average of $265.19. Intuit has a 52 week low of $187.68 and a 52 week high of $306.89.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Monday, February 24th. The software maker reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.14. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.68 billion. Intuit had a net margin of 22.89% and a return on equity of 41.03%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 earnings per share. As a group, equities analysts forecast that Intuit will post 6.31 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTU. Atlas Private Wealth Management bought a new position in shares of Intuit during the fourth quarter valued at about $26,000. Manchester Financial Inc. bought a new position in shares of Intuit during the fourth quarter valued at about $30,000. Virtus ETF Advisers LLC bought a new position in shares of Intuit during the fourth quarter valued at about $31,000. Ameritas Investment Company LLC raised its position in Intuit by 958.3% in the fourth quarter. Ameritas Investment Company LLC now owns 127 shares of the software maker’s stock worth $33,000 after acquiring an additional 115 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Intuit in the fourth quarter worth about $35,000. 87.34% of the stock is currently owned by institutional investors.

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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