Intuit (NASDAQ:INTU) Issues Q2 Earnings Guidance

Intuit (NASDAQ:INTU) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $2.55-2.61 for the period, compared to the consensus EPS 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 Trading Down 5.7 %

Shares of Intuit stock opened at $640.12 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $179.31 billion, a PE ratio of 62.15, a P/E/G ratio of 3.32 and a beta of 1.25. Intuit has a 1-year low of $557.29 and a 1-year high of $714.78. The company’s fifty day simple moving average is $634.81 and its 200-day simple moving average is $631.20.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Intuit will post 14.05 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Bank of America lifted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday. Scotiabank initiated coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. This represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 in the last three months. 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.