Intuit (NASDAQ:INTU) Price Target Raised to $330.00 at Mizuho

Intuit (NASDAQ:INTU) had its target price hoisted by Mizuho from $280.00 to $330.00 in a research note issued to investors on Friday, The Fly reports. Mizuho currently has a buy rating on the software maker’s stock.

INTU has been the subject of a number of other reports. Citigroup decreased their price target on Intuit from $312.00 to $272.00 and set a neutral rating for the company in a report on Tuesday, April 7th. Barclays lifted their price target on Intuit from $295.00 to $300.00 and gave the stock an equal weight rating in a report on Tuesday, February 25th. Credit Suisse Group lifted their price target on Intuit from $300.00 to $310.00 in a report on Tuesday, February 25th. Royal Bank of Canada decreased their price target on Intuit from $345.00 to $280.00 and set an outperform rating for the company in a report on Friday, April 17th. Finally, Jefferies Financial Group lifted their price target on Intuit from $320.00 to $340.00 and gave the stock a buy rating in a report on Friday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $306.00.

NASDAQ:INTU traded down $2.39 during midday trading on Friday, reaching $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 price-to-earnings ratio of 56.73, a PEG ratio of 3.89 and a beta of 1.05. The stock’s fifty day simple moving average is $262.98 and its 200-day simple moving average is $266.23. Intuit has a 12-month low of $187.68 and a 12-month high of $306.89. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.10.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $4.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.60 by ($0.11). The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3 billion. Intuit had a return on equity of 34.27% and a net margin of 19.50%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm earned $5.55 earnings per share. As a group, sell-side analysts expect that Intuit will post 5.85 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in Intuit by 0.3% in the 1st quarter. BlackRock Inc. now owns 22,168,702 shares of the software maker’s stock valued at $5,098,802,000 after acquiring an additional 76,677 shares during the period. State Street Corp increased its position in Intuit by 0.8% in the 4th quarter. State Street Corp now owns 11,251,797 shares of the software maker’s stock valued at $2,947,183,000 after acquiring an additional 88,399 shares during the period. Edgewood Management LLC increased its position in Intuit by 21.6% in the 1st quarter. Edgewood Management LLC now owns 5,973,509 shares of the software maker’s stock valued at $1,373,907,000 after acquiring an additional 1,059,259 shares during the period. Geode Capital Management LLC increased its position in Intuit by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,502,032 shares of the software maker’s stock valued at $1,177,103,000 after acquiring an additional 89,352 shares during the period. Finally, Sands Capital Management LLC increased its position in Intuit by 53.3% in the 4th quarter. Sands Capital Management LLC now owns 3,400,292 shares of the software maker’s stock valued at $890,638,000 after acquiring an additional 1,181,976 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

About Intuit

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.

Read More: After-Hours Trading

The Fly

Analyst Recommendations for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.