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 Price Performance

NASDAQ INTU traded up $28.10 during mid-day trading on Thursday, hitting $678.70. The stock had a trading volume of 2,260,463 shares, compared to its average volume of 1,348,630. Intuit has a twelve month low of $557.29 and a twelve month high of $714.78. 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 firm’s 50 day moving average is $634.46 and its 200 day moving average is $630.89. The stock has a market capitalization of $190.12 billion, a price-to-earnings ratio of 62.26, a PEG ratio of 3.15 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. Equities research analysts forecast that Intuit will post 14.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $768.00 price target on shares of Intuit in a report on Friday, September 27th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Finally, BMO Capital Markets upped their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $737.06.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 99.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following 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 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 quarter. 2.90% of the stock is owned by company insiders.

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.