Intuit (NASDAQ:INTU) Price Target Increased to $320.00 by Analysts at Bank of America

Intuit (NASDAQ:INTU) had its price target hoisted by Bank of America from $270.00 to $320.00 in a research note published on Friday, AnalystRatings.com reports. They currently have a buy rating on the software maker’s stock.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group upped their target price on Intuit from $320.00 to $340.00 and gave the stock a buy rating in a report on Friday. Mizuho upped their target price on Intuit from $280.00 to $330.00 and gave the stock a buy rating in a report on Friday. Zacks Investment Research upgraded 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. Barclays upped their target price on Intuit from $295.00 to $300.00 and gave the stock an equal weight rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada boosted their price target on Intuit from $280.00 to $315.00 and gave the stock an outperform rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Intuit has a consensus rating of Buy and an average target price of $306.00.

INTU traded down $2.39 during trading hours on Friday, reaching $287.61. 1,738,172 shares of the company’s stock traded hands, compared to its average volume of 1,095,271. The firm has a 50-day moving average price of $262.98 and a 200 day moving average price of $266.23. Intuit has a 52-week low of $187.68 and a 52-week high of $306.89. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $75.54 billion, a PE ratio of 56.73, a PEG ratio of 3.89 and a beta of 1.05.

Intuit (NASDAQ:INTU) last issued its 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). Intuit had a return on equity of 34.27% and a net margin of 19.50%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the company posted $5.55 earnings per share. Intuit’s quarterly revenue was down 8.3% compared to the same quarter last year. Equities analysts predict that Intuit will post 5.85 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in Intuit by 142.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 709,334 shares of the software maker’s stock valued at $163,147,000 after buying an additional 417,084 shares in the last quarter. FDx Advisors Inc. increased its position in Intuit by 96.9% during the 1st quarter. FDx Advisors Inc. now owns 6,204 shares of the software maker’s stock valued at $1,427,000 after buying an additional 3,053 shares in the last quarter. Capital Advisors Inc. OK increased its position in Intuit by 43.2% during the 1st quarter. Capital Advisors Inc. OK now owns 63,417 shares of the software maker’s stock valued at $14,586,000 after buying an additional 19,132 shares in the last quarter. Fred Alger Management LLC increased its position in Intuit by 247.9% during the 1st quarter. Fred Alger Management LLC now owns 463,338 shares of the software maker’s stock valued at $106,568,000 after buying an additional 330,163 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in Intuit by 12.9% during the 1st quarter. APG Asset Management N.V. now owns 267,921 shares of the software maker’s stock valued at $61,622,000 after buying an additional 30,651 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors.

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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