JPMorgan Chase & Co. Reiterates “Neutral” Rating for Intuit (INTU)
Intuit (NASDAQ:INTU)‘s stock had its “neutral” rating reaffirmed by research analysts at JPMorgan Chase & Co. in a report released on Wednesday. They currently have a $84.00 price objective on the stock, up from their previous price objective of $77.00. JPMorgan Chase & Co.’s price target would suggest a potential upside of 4.82% from the company’s current price.
In other Intuit news, SVP Daniel A. Wernikoff unloaded 18,000 shares of the company’s stock on the open market in a transaction dated Friday, May 23rd. The stock was sold at an average price of $79.41, for a total value of $1,429,380.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of Intuit in a research note on Thursday, May 22nd. They now have a $66.00 price target on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of Intuit to $80.00 in a research note on Wednesday, May 21st. They now have a “neutral” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of Intuit from $84.00 to $89.00 in a research note on Wednesday, May 21st. They now have a “strong-buy” rating on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $78.23.
Intuit (NASDAQ:INTU) traded down 1.01% on Wednesday, hitting $79.33. 861,616 shares of the company’s stock traded hands. Intuit has a 1-year low of $56.74 and a 1-year high of $82.40. The stock has a 50-day moving average of $75. and a 200-day moving average of $75.61. The company has a market cap of $22.521 billion and a price-to-earnings ratio of 25.58.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.03. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the company posted $2.97 earnings per share. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts expect that Intuit will post $3.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 18th. Investors of record on Thursday, July 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 0.95%. The ex-dividend date of this dividend is Tuesday, July 8th.
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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