Intuit (NASDAQ:INTU) Given New $290.00 Price Target at Morgan Stanley

Intuit (NASDAQ:INTU) had its price target hoisted by Morgan Stanley from $277.00 to $290.00 in a report published on Friday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the software maker’s stock.

Several other brokerages have also recently commented on INTU. KeyCorp increased their target price on shares of Intuit from $285.00 to $315.00 and gave the stock an overweight rating in a report on Tuesday. Zacks Investment Research upgraded shares of Intuit from a hold rating to a buy rating and set a $265.00 target price for the company in a report on Monday, April 13th. Credit Suisse Group increased their target price on shares of Intuit from $300.00 to $310.00 in a report on Tuesday, February 25th. BidaskClub upgraded shares of Intuit from a buy rating to a strong-buy rating in a report on Friday, May 8th. Finally, Cfra cut shares of Intuit from a hold rating to a sell rating in a report on Monday, April 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $306.00.

Shares of Intuit stock traded down $2.39 on Friday, hitting $287.61. The company had a trading volume of 1,738,172 shares, compared to its average volume of 1,095,271. The firm has a market capitalization of $75.54 billion, a P/E ratio of 56.73, a P/E/G ratio of 3.89 and a beta of 1.05. Intuit has a twelve month low of $187.68 and a twelve month high of $306.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.67 and a quick ratio of 1.67. The stock has a 50-day moving average of $262.98 and a 200-day moving average of $266.23.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $4.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.60 by ($0.11). The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3 billion. Intuit had a net margin of 19.50% and a return on equity of 34.27%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.55 EPS. Equities analysts predict that Intuit will post 5.85 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. NEXT Financial Group Inc raised its position in shares of Intuit by 3.0% in the fourth quarter. NEXT Financial Group Inc now owns 1,320 shares of the software maker’s stock valued at $346,000 after purchasing an additional 38 shares during the period. RFG Advisory LLC bought a new position in shares of Intuit in the fourth quarter valued at about $303,000. Mckinley Capital Management LLC Delaware raised its position in shares of Intuit by 0.9% in the fourth quarter. Mckinley Capital Management LLC Delaware now owns 6,478 shares of the software maker’s stock valued at $1,697,000 after purchasing an additional 60 shares during the period. Landsberg Bennett & Dubbaneh LLC bought a new position in shares of Intuit in the fourth quarter valued at about $471,000. Finally, Valeo Financial Advisors LLC raised its position in shares of Intuit by 134.8% in the fourth quarter. Valeo Financial Advisors LLC now owns 331 shares of the software maker’s stock valued at $87,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Analyst Recommendations for Intuit (NASDAQ:INTU)

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