Intuit (NASDAQ:INTU) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Intuit (NASDAQ:INTU) had its target price raised by Morgan Stanley from $720.00 to $785.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

A number of other analysts also recently weighed in on the stock. Hsbc Global Res upgraded shares of Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Citigroup dropped their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a research note on Friday. Finally, Oppenheimer dropped their target price on Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Price Performance

Shares of Intuit stock opened at $720.13 on Friday. The firm has a market cap of $201.32 billion, a PE ratio of 69.92, a PEG ratio of 2.85 and a beta of 1.24. The stock has a 50 day moving average of $616.76 and a 200 day moving average of $621.21. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a 12 month low of $532.65 and a 12 month high of $734.18.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the company earned $9.88 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, research analysts expect that Intuit will post 14.09 EPS for the current fiscal year.

Insider Transactions at Intuit

In other news, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,696 shares of company stock worth $14,347,731. Insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Intuit

Institutional investors and hedge funds have recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Intuit in the fourth quarter valued at about $25,000. Copia Wealth Management purchased a new position in Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC raised its holdings in shares of 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 purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. 83.66% of the stock is owned by institutional investors.

Intuit Company Profile

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.