Intuit (NASDAQ:INTU) Price Target Raised to $760.00

Intuit (NASDAQ:INTU) had its price objective increased by research analysts at Piper Sandler from $750.00 to $760.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Piper Sandler’s target price suggests a potential upside of 25.00% from the company’s current price.

A number of other research firms have also issued reports on INTU. Morgan Stanley increased their price target on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Stifel Nicolaus increased their price target on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. increased their price objective on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $679.41.

Intuit Price Performance

INTU stock opened at $608.00 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit has a one year low of $400.22 and a one year high of $676.62. The firm 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 firm has a 50-day moving average of $634.12 and a two-hundred day moving average of $622.77.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $6.65 billion. During the same period in the prior year, the firm earned $7.80 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts forecast 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 firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuit

Several hedge funds and other institutional investors have recently modified their holdings of the stock. DiNuzzo Private Wealth Inc. bought a new position in Intuit in the fourth quarter worth $25,000. West Branch Capital LLC lifted its position in Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the period. MCF Advisors LLC lifted its position in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Cape Investment Advisory Inc. bought a new position in Intuit in the third quarter worth $26,000. Finally, Wetzel Investment Advisors Inc. bought a new position in Intuit in the fourth quarter worth $38,000. Institutional investors and hedge funds 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.