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

Intuit (NASDAQ:INTU) had its target price lifted by Barclays from $775.00 to $815.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. Barclays‘s price objective suggests a potential upside of 13.17% from the stock’s current price.

A number of other equities analysts have also recently commented on INTU. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Stifel Nicolaus lifted their price target on shares of Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research report on Friday. UBS Group lifted their price target on shares of Intuit from $655.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Mizuho boosted their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $825.00 target price (up previously from $785.00) on shares of Intuit in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $785.33.

Intuit Stock Performance

Shares of Intuit stock opened at $720.13 on Friday. The stock’s fifty day simple moving average is $616.76 and its 200 day simple moving average is $621.02. The company has a market capitalization of $201.32 billion, a PE ratio of 69.92, a PEG ratio of 2.85 and a beta of 1.24. 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 announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $9.88 EPS. On average, research analysts predict that Intuit will post 14.09 EPS for the current year.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 over the last 90 days. 2.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INTU. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter worth approximately $2,290,419,000. GAMMA Investing LLC increased its position in shares of Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock valued at $17,348,790,000 after acquiring an additional 2,821,534 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Intuit during the first quarter valued at approximately $882,031,000. Nicholas Hoffman & Company LLC. purchased a new stake in Intuit in the first quarter worth $785,564,000. Finally, Proficio Capital Partners LLC increased its position in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

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.