Intuit (NASDAQ:INTU) Price Target Raised to $292.00 at Citigroup

Intuit (NASDAQ:INTU) had its price target increased by Citigroup from $272.00 to $292.00 in a report published on Friday, The Fly reports. Citigroup currently has a neutral rating on the software maker’s stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada lowered their price objective on shares of Intuit from $345.00 to $280.00 and set an outperform rating on the stock in a research note on Friday, April 17th. Bank of America raised their price objective on shares of Intuit from $303.00 to $320.00 and gave the company a buy rating in a research note on Tuesday, February 25th. Credit Suisse Group raised their target price on shares of Intuit from $300.00 to $310.00 in a report on Tuesday, February 25th. Stifel Nicolaus reduced their target price on shares of Intuit from $315.00 to $300.00 and set a buy rating for the company in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Intuit from $268.00 to $249.00 and set an underweight rating for the company in a report on Thursday, March 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $306.00.

Shares of NASDAQ INTU traded down $2.39 during mid-day trading on Friday, reaching $287.61. 1,738,172 shares of the company traded hands, compared to its average volume of 1,095,271. Intuit has a fifty-two week low of $187.68 and a fifty-two week 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 firm has a market cap of $75.54 billion, a PE ratio of 56.73, a price-to-earnings-growth ratio of 3.89 and a beta of 1.05. The stock has a fifty day simple moving average of $262.98 and a 200-day simple moving average of $266.23.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 EPS for the quarter, missing the Zacks’ consensus estimate of $4.60 by ($0.11). Intuit had a net margin of 19.50% and a return on equity of 34.27%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business earned $5.55 EPS. Intuit’s revenue was down 8.3% compared to the same quarter last year. As a group, analysts predict that Intuit will post 5.85 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. NEXT Financial Group Inc boosted its stake in Intuit by 3.0% in the 4th quarter. NEXT Financial Group Inc now owns 1,320 shares of the software maker’s stock worth $346,000 after purchasing an additional 38 shares during the period. Savant Capital LLC boosted its stake in Intuit by 3.9% in the 4th quarter. Savant Capital LLC now owns 1,070 shares of the software maker’s stock worth $280,000 after purchasing an additional 40 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in Intuit by 2.1% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 1,929 shares of the software maker’s stock worth $505,000 after purchasing an additional 40 shares during the period. Laurel Wealth Advisors LLC boosted its stake in Intuit by 50.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after purchasing an additional 40 shares during the period. Finally, Shine Investment Advisory Services Inc. boosted its stake in shares of Intuit by 18.8% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 278 shares of the software maker’s stock valued at $64,000 after buying an additional 44 shares during the period. 86.39% of the stock is owned by hedge funds and other 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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