Intuit (NASDAQ:INTU) Issues Q2 Earnings Guidance

Intuit (NASDAQ:INTU) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.55-2.61 for the period, compared to the consensus earnings per share estimate of $3.25. The company issued revenue guidance of $3.812-3.845 billion, compared to the consensus revenue estimate of $3.88 billion. Intuit also updated its FY25 guidance to $19.16-19.36 EPS.

Intuit Price Performance

Intuit stock opened at $666.00 on Friday. The firm has a market capitalization of $186.56 billion, a P/E ratio of 63.73, a PEG ratio of 3.15 and a beta of 1.25. Intuit has a 1 year low of $557.29 and a 1 year high of $714.78. The business has a 50-day moving average of $635.12 and a 200-day moving average of $631.23. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. On average, equities analysts anticipate that Intuit will post 14.05 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTU. Piper Sandler decreased their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. BMO Capital Markets boosted their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Jefferies Financial Group boosted their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $738.56.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.