Barclays Has Lowered Expectations for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU) had its price target lowered by stock analysts at Barclays from $785.00 to $540.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has an “overweight” rating on the software maker’s stock. Barclays‘s target price would suggest a potential upside of 46.53% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Oppenheimer decreased their price target on shares of Intuit from $868.00 to $696.00 and set an “outperform” rating for the company in a research note on Tuesday, February 3rd. The Goldman Sachs Group initiated coverage on Intuit in a research report on Monday, January 12th. They issued a “neutral” rating and a $720.00 target price for the company. Truist Financial initiated coverage on Intuit in a report on Tuesday, January 6th. They issued a “buy” rating and a $739.00 price target on the stock. BMO Capital Markets decreased their price objective on Intuit from $810.00 to $624.00 and set an “outperform” rating for the company in a report on Tuesday, February 10th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $700.00 target price (down from $840.00) on shares of Intuit in a report on Thursday, January 8th. Twenty-two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $736.59.

Intuit Stock Performance

NASDAQ:INTU opened at $368.54 on Monday. Intuit has a fifty-two week low of $375.40 and a fifty-two week high of $813.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 1.39. The company has a 50 day simple moving average of $554.54 and a two-hundred day simple moving average of $628.97. The company has a market capitalization of $102.55 billion, a PE ratio of 25.58, a P/E/G ratio of 1.55 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 20th. The software maker reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.25. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.76 billion. Intuit had a net margin of 21.19% and a return on equity of 23.52%. Intuit’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 EPS. Research analysts anticipate that Intuit will post 14.09 earnings per share for the current year.

Insiders Place Their Bets

In other Intuit news, Director Scott D. Cook sold 1,402 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $668.02, for a total value of $936,564.04. Following the transaction, the director directly owned 5,668,182 shares in the company, valued at $3,786,458,939.64. This represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 1,335 shares of Intuit stock in a transaction on Monday, January 5th. The shares were sold at an average price of $629.46, for a total value of $840,329.10. Following the sale, the chief financial officer directly owned 536 shares of the company’s stock, valued at approximately $337,390.56. This trade represents a 71.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 388,464 shares of company stock worth $255,514,393. 2.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuit

A number of large investors have recently added to or reduced their stakes in INTU. Vanguard Group Inc. raised its stake in shares of Intuit by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker’s stock worth $19,156,152,000 after acquiring an additional 296,448 shares in the last quarter. State Street Corp increased its position in shares of Intuit by 1.4% during the fourth quarter. State Street Corp now owns 13,062,848 shares of the software maker’s stock worth $8,653,092,000 after purchasing an additional 180,069 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Intuit by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker’s stock valued at $4,369,488,000 after purchasing an additional 87,451 shares during the last quarter. Morgan Stanley boosted its position in shares of Intuit by 1.2% in the 4th quarter. Morgan Stanley now owns 5,100,857 shares of the software maker’s stock worth $3,378,912,000 after purchasing an additional 60,910 shares in the last quarter. Finally, Norges Bank acquired a new position in Intuit during the 4th quarter valued at about $3,058,407,000. 83.66% of the stock is currently owned by institutional investors.

About Intuit

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.