Intuit (NASDAQ:INTU) Updates Q1 Earnings Guidance

Intuit (NASDAQ:INTU) issued an update on its first quarter earnings guidance on Thursday morning. The company provided EPS guidance of $2.33-2.38 for the period, compared to the consensus EPS estimate of $2.78. The company issued revenue guidance of $3.13-3.16 billion, compared to the consensus revenue estimate of $3.37 billion. Intuit also updated its FY25 guidance to $19.16-19.36 EPS.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler reissued an overweight rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, July 12th. Erste Group Bank reiterated a hold rating on shares of Intuit in a research report on Friday, June 14th. Morgan Stanley cut shares of Intuit from an overweight rating to an equal weight rating and cut their price objective for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Susquehanna reiterated a positive rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Finally, Bank of America lowered their price objective on shares of Intuit from $760.00 to $730.00 and set a buy rating for the company in a research report on Friday, May 24th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $691.77.

Intuit Stock Performance

NASDAQ INTU traded down $5.57 during trading hours on Thursday, reaching $664.92. The company’s stock had a trading volume of 962,088 shares, compared to its average volume of 1,313,117. The stock has a market cap of $185.88 billion, a PE ratio of 61.48, a PEG ratio of 3.14 and a beta of 1.23. Intuit has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $637.37 and a 200 day simple moving average of $634.37.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $7.80 EPS. Equities research analysts predict that Intuit will post 11.72 earnings per share for the current fiscal year.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the transaction, the executive vice president now owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the transaction, the executive vice president now owns 869 shares in the company, valued at $525,380.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the sale, the chief financial officer now owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is owned by corporate insiders.

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.