Intuit (NASDAQ:INTU) PT Raised to $770.00

Intuit (NASDAQ:INTU) had its price target hoisted by analysts at Jefferies Financial Group from $760.00 to $770.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 26.64% from the company’s current price.

Several other equities analysts have also recently weighed in on INTU. BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. JPMorgan Chase & Co. lifted their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Piper Sandler lifted their price objective on Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group lifted their price objective on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. Finally, Barclays lifted their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $679.41.

Intuit Stock Performance

NASDAQ:INTU opened at $608.00 on Friday. The company has a market capitalization of $169.97 billion, a PE ratio of 56.00, a P/E/G ratio of 3.70 and a beta of 1.22. The company has a 50 day simple moving average of $634.12 and a two-hundred day simple moving average of $622.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. Intuit has a fifty-two week low of $400.22 and a fifty-two week high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter last year, the firm posted $7.80 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts anticipate that Intuit will post 11.28 earnings per share for the current year.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of INTU. Desjardins Global Asset Management Inc. lifted its position in Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after buying an additional 16 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in Intuit by 1.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Intuit by 3.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after buying an additional 16 shares during the last quarter. GAM Holding AG lifted its position in Intuit by 0.3% in the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after buying an additional 17 shares during the last quarter. Finally, Janiczek Wealth Management LLC lifted its position in Intuit by 2.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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 ProTax.