Citigroup Issues Pessimistic Forecast for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU) had its price target cut by Citigroup from $760.00 to $726.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Citigroup’s target price indicates a potential upside of 16.07% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $723.76.

Intuit Stock Up 12.6 %

Intuit stock traded up $69.88 during trading hours on Wednesday, hitting $625.51. The stock had a trading volume of 4,673,426 shares, compared to its average volume of 1,887,437. The stock’s 50-day moving average price is $607.70 and its 200-day moving average price is $627.55. The stock has a market capitalization of $175.09 billion, a P/E ratio of 60.73, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit has a 12-month low of $553.24 and a 12-month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Insider Transactions at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock worth $140,855,687 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Intuit

Institutional investors have recently bought and sold shares of the business. Integrated Advisors Network LLC boosted its stake in shares of Intuit by 9.6% in the third quarter. Integrated Advisors Network LLC now owns 1,416 shares of the software maker’s stock worth $879,000 after acquiring an additional 124 shares during the period. Strategic Blueprint LLC lifted its holdings in Intuit by 1.9% in the 3rd quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock worth $725,000 after purchasing an additional 22 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in Intuit by 9.2% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,494 shares of the software maker’s stock worth $899,000 after purchasing an additional 126 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in Intuit by 3.2% in the 3rd quarter. Childress Capital Advisors LLC now owns 1,137 shares of the software maker’s stock worth $706,000 after purchasing an additional 35 shares during the period. Finally, Mutual Advisors LLC grew its holdings in Intuit by 21.5% during the 3rd quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock valued at $1,625,000 after buying an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.