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

Intuit (NASDAQ:INTU) had its target price lowered by Citigroup from $760.00 to $726.00 in a research note published on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the software maker’s stock.

Several other equities analysts have also commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $723.76.

Intuit Stock Performance

Shares of Intuit stock opened at $625.51 on Wednesday. The firm has a market capitalization of $175.09 billion, a P/E ratio of 60.73, a PEG ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $607.22 and a 200 day moving average price of $627.53. Intuit has a 52 week low of $553.24 and a 52 week high of $714.78.

Insider Transactions at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $12,286.92. This represents a 99.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 in the last quarter. Company insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

Institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new stake in Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the 4th quarter valued at about $28,000. Finally, Summit Securities Group LLC purchased a new stake in Intuit in the 4th quarter valued at about $28,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.