Intuit (NASDAQ:INTU) had its price target increased by Citigroup to $170.00 in a note issued to investors on Tuesday, November 21st, The Fly reports. Citigroup’s price target indicates a potential upside of 8.84% from the stock’s previous close.
INTU has been the topic of a number of other research reports. Jefferies Group initiated coverage on Intuit in a research report on Thursday, August 24th. They issued a “buy” rating and a $157.00 price target on the stock. UBS initiated coverage on Intuit in a research report on Thursday, November 9th. They issued a “neutral” rating and a $152.00 price target on the stock. Oppenheimer upped their price target on Intuit from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. Bank of America restated a “buy” rating and set a $145.00 target price on shares of Intuit in a research report on Wednesday, August 23rd. Finally, Credit Suisse Group restated an “outperform” rating and set a $155.00 target price (up previously from $150.00) on shares of Intuit in a research report on Wednesday, August 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. Intuit has an average rating of “Hold” and an average target price of $152.89.
Shares of Intuit (INTU) traded up $1.72 during midday trading on Tuesday, reaching $156.19. The company’s stock had a trading volume of 943,422 shares, compared to its average volume of 1,488,877. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67. Intuit has a 52-week low of $111.90 and a 52-week high of $158.90. The firm has a market cap of $39,508.13, a PE ratio of 41.32, a PEG ratio of 2.78 and a beta of 1.18.
Intuit (NASDAQ:INTU) last issued its earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.30. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The business had revenue of $886.00 million during the quarter, compared to analysts’ expectations of $855.74 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. equities research analysts expect that Intuit will post 3.95 earnings per share for the current fiscal year.
In other Intuit news, VP Mark J. Flournoy sold 13,424 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $155.56, for a total transaction of $2,088,237.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brad D. Smith sold 110,496 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $151.40, for a total value of $16,729,094.40. Following the transaction, the chief executive officer now directly owns 399,246 shares of the company’s stock, valued at $60,445,844.40. The disclosure for this sale can be found here. Insiders have sold 1,097,555 shares of company stock valued at $160,825,842 over the last ninety days. 5.59% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Exane Derivatives bought a new position in Intuit during the third quarter valued at $105,000. Captrust Financial Advisors bought a new position in Intuit during the second quarter valued at $108,000. Horan Capital Advisors LLC. bought a new position in shares of Intuit in the third quarter worth $114,000. Shine Investment Advisory Services Inc. bought a new position in shares of Intuit in the second quarter worth $123,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Intuit in the second quarter worth $140,000. 86.28% of the stock is owned by institutional investors and hedge funds.
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Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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