Intuit’s (INTU) “Underweight” Rating Reiterated at Piper Sandler

Piper Sandler reiterated their underweight rating on shares of Intuit (NASDAQ:INTU) in a research note published on Wednesday,Benzinga reports. Piper Sandler currently has a $250.00 price target on the software maker’s stock.

A number of other brokerages have also issued reports on INTU. Stifel Nicolaus reissued a “hold” rating and issued a $275.00 price objective (down from $375.00) on shares of Intuit in a report on Wednesday, June 17th. TD Cowen reaffirmed a “buy” rating on shares of Intuit in a research note on Tuesday. Wells Fargo & Company decreased their target price on shares of Intuit from $425.00 to $360.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Daiwa Securities Group dropped their price target on shares of Intuit from $640.00 to $500.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, Evercore restated an “outperform” rating on shares of Intuit in a report on Tuesday. Twenty analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $451.26.

Intuit Stock Performance

NASDAQ:INTU opened at $367.00 on Wednesday. The company has a market cap of $100.39 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.14 and a beta of 0.97. The company’s 50-day moving average price is $299.09 and its 200-day moving average price is $359.96. Intuit has a twelve month low of $252.84 and a twelve month high of $705.08. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, topping analysts’ consensus estimates of $12.57 by $0.23. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $11.65 earnings per share. On average, sell-side analysts forecast that Intuit will post 18.19 earnings per share for the current fiscal year.

Insider Transactions at Intuit

In related news, Director Vasant M. Prabhu acquired 500 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $309.71 per share, with a total value of $154,855.00. Following the transaction, the director owned 1,750 shares of the company’s stock, valued at approximately $541,992.50. This trade represents a 40.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard L. Dalzell sold 284 shares of Intuit stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total transaction of $74,498.88. Following the completion of the sale, the director owned 11,758 shares of the company’s stock, valued at $3,084,358.56. This trade represents a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,239 shares of company stock valued at $348,354. Company insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On Intuit

A number of institutional investors have recently modified their holdings of INTU. Joseph Group Capital Management acquired a new position in Intuit in the 4th quarter valued at about $25,000. Fiduciary Financial Advisors purchased a new position in shares of Intuit in the second quarter valued at approximately $25,000. Intesa Sanpaolo Wealth Management acquired a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. Osbon Capital Management LLC acquired a new position in shares of Intuit in the second quarter valued at approximately $26,000. Finally, MidFirst Bank purchased a new stake in Intuit during the 2nd quarter worth approximately $28,000. 83.66% of the stock is owned by institutional investors and hedge funds.

More Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s TurboTax, Credit Karma and QuickBooks businesses remain central to the bullish case. Analysts say the company is building a year-round consumer financial platform and using cross-selling to increase engagement and average revenue per user. Intuit Consumer Flywheel Gains: Can Cross-Selling Sustain Higher ARPU?
• Positive Sentiment: Some analysts see potential for an upside earnings surprise, citing valuation compression, raised guidance and continued momentum in Intuit’s key growth engines. Bank of America maintained a Buy rating and a $400 price target, supporting investor confidence before the report. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Options-oriented coverage highlights the possibility of generating income by selling calls against existing INTU shares. The strategy may provide an attractive yield but limits upside if the stock rises above the option’s strike price. Get Paid 16% A Year To Hold INTU Stock You Already Own
• Neutral Sentiment: Wall Street’s outlook is mixed ahead of earnings. Piper Sandler reaffirmed an Underweight rating, while another valuation update reduced its fair-value estimate from $488.17 to $449.20, reflecting concerns about growth expectations, valuation and potential artificial-intelligence risks. Piper Sandler Reaffirms Underweight Rating for Intuit
• Negative Sentiment: Several law firms are publicizing a securities-fraud class action against Intuit and certain officers. The lawsuit alleges that the company made material misstatements or omissions about the strength of its tax-related business and TurboTax growth disclosures. Investors face a September 8 deadline to seek lead-plaintiff status. The legal claims are allegations and could create reputational, financial and investor-confidence risks. Intuit Securities Fraud Class Action Deadline Alert

Intuit Company Profile

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.