As of September 29, 2023, Intuit (NASDAQ: INTU) continues to receive an optimistic outlook from Wolfe Research analyst Alex Zukin, who maintains an Outperform rating on the stock. In a recent evaluation, Zukin has revised the price target for Intuit from $600 to $660, indicating a positive trajectory for the company’s future performance. This adjustment reflects Zukin’s confidence in Intuit’s ability to surpass expectations and deliver substantial value to its shareholders. With this updated price target, investors can anticipate further growth and potential returns from their investments in Intuit.
Intuit Inc.
INTU
Strong Buy
Updated on: 03/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
INTU Stock Shows Positive Performance with Strong Earnings Growth: Analysis and Forecast
INTU stock had a mixed performance on September 29, 2023. The stock opened at $522.42, higher than the previous day’s closing price of $512.44. Throughout the day, the stock traded within a range of $514.44 to $524.08. The trading volume for the day was 28,494, significantly lower than the average volume of 1,658,871 over the past three months.
Intuit Inc. has a market capitalization of $142.5 billion. The company has shown strong earnings growth over the past year, with a growth rate of 14.98%. This positive trend is expected to continue, with earnings growth projected at 9.65% for the current year and an impressive 17.34% for the next five years. The revenue growth for the company in the previous year was 12.90%.
The stock has a relatively high price-to-earnings (P/E) ratio of 61.2. The price-to-sales ratio is 10.08, suggesting that the stock is trading at a higher valuation compared to its sales. The price-to-book ratio is 8.26, which implies that the stock is priced at a premium compared to its book value.
On September 29, 2023, INTU stock had a positive performance, with a change of +1.76 and a percentage change of +1.38%. This indicates that the stock price increased during the trading session. It is worth noting that other technology services companies, such as SAP SE, ServiceNow Inc, Uber Technologies Inc, and Salesforce.com, also experienced positive changes in their stock prices on the same day.
Intuit Inc.’s next reporting date is set for November 23, 2023. Analysts are forecasting earnings per share (EPS) of $2.06 for the current quarter. The company reported annual revenue of $14.4 billion in the previous year, with a net profit of $2.4 billion. The net profit margin for Intuit Inc. is 16.59%, indicating the company’s ability to generate profit from its operations.
Intuit Inc. operates in the technology services sector and specializes in packaged software. The company is headquartered in Mountain View, California. Although no executives were mentioned in the provided information, it is important to note that the leadership team plays a crucial role in the company’s performance and decision-making.
In conclusion, INTU stock had a positive performance on September 29, 2023, with an increase in stock price. The company has shown strong earnings and revenue growth, and analysts have a positive outlook for its future performance. However, investors should consider the relatively high valuation ratios when making investment decisions.
INTU Stock Analysis: Strong Performance and Positive Forecasts for Intuit Inc. on September 29, 2023
INTU stock, the stock of Intuit Inc., has been performing well on September 29, 2023, according to data from CNN Money. The 25 analysts who have offered 12-month price forecasts for INTU stock have a median target of $570.00. The high estimate for the stock price is $660.00, while the low estimate is $410.00.
The median estimate of $570.00 represents a 10.66% increase from the last price of $515.11. This suggests that the analysts believe there is potential for significant growth in the stock price over the next 12 months.
Furthermore, the current consensus among 31 polled investment analysts is to buy stock in Intuit Inc. This rating has remained steady since September.
In terms of financial performance, Intuit Inc. reported earnings per share of $2.06 for the current quarter. Additionally, the company reported sales of $2.9 billion for the current quarter.
Looking ahead, Intuit Inc. is set to report its next earnings on November 23.
In conclusion, INTU stock has been performing well on September 29, 2023, with analysts offering a median target of $570.00, representing a 10.66% increase from the last price. The consensus among investment analysts is to buy INTU stock, and the company has reported positive financial results for the current quarter.
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