UBS AG Reiterates “Buy” Rating for Intuit (INTU)
Intuit (NASDAQ:INTU)‘s stock had its “buy” rating restated by equities research analysts at UBS AG in a research note issued to investors on Wednesday, ARN reports. They currently have a $70.00 target price on the stock, up from their previous target price of $69.00. UBS AG’s target price suggests a potential upside of 8.83% from the company’s current price.
A number of other analysts have also recently weighed in on INTU. Analysts at Raymond James raised their price target on shares of Intuit from $72.00 to $75.00 in a research note to investors on Tuesday, August 13th. They now have a “strong-buy” rating on the stock. Separately, analysts at Evercore Partners raised their price target on shares of Intuit from $58.00 to $63.00 in a research note to investors on Tuesday, August 13th. They now have an “equal weight” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Intuit from $65.00 to $69.00 in a research note to investors on Wednesday, August 7th. They now have an “outperform” rating on the stock.
One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Intuit has an average rating of “Hold” and an average price target of $68.01.
Shares of Intuit (NASDAQ:INTU) traded up 0.22% on Wednesday, hitting $64.32. The stock had a trading volume of 2,694,020 shares. Intuit has a 1-year low of $55.54 and a 1-year high of $68.41. The stock’s 50-day moving average is $63.96 and its 200-day moving average is $62.42. The company has a market cap of $19.167 billion and a price-to-earnings ratio of 22.63.
Intuit (NASDAQ:INTU) last released its earnings data on Tuesday, August 20th. The company reported $0.00 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.03 by $0.03. The company had revenue of $634.00 million for the quarter, compared to the consensus estimate of $658.05 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts expect that Intuit will post $3.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, October 8th. This is an increase from Intuit’s previous quarterly dividend of $0.17.
In other Intuit news, Director Edward Kangas sold 30,000 shares of the company’s stock on the open market in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $63.05, for a total transaction of $1,891,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Intuit Inc (NASDAQ:INTU) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions.
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