Intuit (NASDAQ:INTU) Price Target Raised to $330.00 at Wells Fargo & Co

Intuit (NASDAQ:INTU) had its target price upped by Wells Fargo & Co from $310.00 to $330.00 in a report released on Friday morning, The Fly reports. The brokerage currently has an overweight rating on the software maker’s stock.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. dropped their price target on Intuit from $268.00 to $249.00 and set an underweight rating for the company in a research note on Thursday, March 26th. Jefferies Financial Group raised their price target on Intuit from $320.00 to $340.00 and gave the stock a buy rating in a research note on Friday. Bank of America raised their price target on Intuit from $303.00 to $320.00 and gave the stock a buy rating in a research note on Tuesday, February 25th. Cfra lowered Intuit from a hold rating to a sell rating in a research note on Monday, April 6th. Finally, Guggenheim raised their price target on Intuit from $320.00 to $330.00 in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $306.00.

Shares of NASDAQ:INTU traded down $2.39 during trading on Friday, reaching $287.61. 1,738,172 shares of the company traded hands, 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 P/E/G ratio of 3.89 and a beta of 1.05. Intuit has a 52-week low of $187.68 and a 52-week 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. The business’s fifty day moving average is $262.98 and its 200-day moving average is $266.23.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates of $4.60 by ($0.11). The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3 billion. Intuit had a net margin of 19.50% and a return on equity of 34.27%. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the company posted $5.55 EPS. On average, sell-side analysts predict that Intuit will post 5.85 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of INTU. NEXT Financial Group Inc increased its holdings in shares of Intuit by 3.0% during the fourth quarter. NEXT Financial Group Inc now owns 1,320 shares of the software maker’s stock valued at $346,000 after acquiring an additional 38 shares in the last quarter. RFG Advisory LLC bought a new position in shares of Intuit during the fourth quarter valued at $303,000. Mckinley Capital Management LLC Delaware increased its holdings in shares of Intuit by 0.9% during 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 acquiring an additional 60 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC bought a new position in shares of Intuit during the fourth quarter valued at $471,000. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Intuit by 134.8% during the fourth quarter. Valeo Financial Advisors LLC now owns 331 shares of the software maker’s stock valued at $87,000 after acquiring an additional 190 shares in the last quarter. 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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