Intuit Earns “Strong-Buy” Rating from Raymond James (INTU)
Intuit (NASDAQ:INTU)‘s stock had its “strong-buy” rating restated by research analysts at Raymond James in a report released on Friday. They currently have a $100.00 price objective on the stock, up from their previous price objective of $89.00. Raymond James’ price objective would suggest a potential upside of 16.54% from the company’s current price.
Intuit (NASDAQ:INTU) traded down 2.67% during mid-day trading on Friday, hitting $83.52. The stock had a trading volume of 3,928,790 shares. Intuit has a 1-year low of $61.50 and a 1-year high of $85.89. The stock’s 50-day moving average is $82.16 and its 200-day moving average is $78.37. The company has a market cap of $23.710 billion and a P/E ratio of 27.39. Intuit also was the target of unusually large options trading on Thursday. Stock traders purchased 6,247 call options on the stock. This represents an increase of approximately 832% compared to the typical daily volume of 670 call options.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 21st. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.07 by $0.06. The company had revenue of $714.00 million for the quarter, compared to the consensus estimate of $699.49 million. Intuit’s revenue was up 12.6% compared to the same quarter last year. Analysts expect that Intuit will post $3.97 EPS for the current fiscal year.
INTU has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of Intuit from $69.00 to $90.00 in a research note on Friday. They now have an “equal weight” rating on the stock. Separately, analysts at Wedbush raised their price target on shares of Intuit from $87.00 to $95.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Intuit in a research note on Wednesday. They now have a $66.00 price target on the stock, down previously from $72.00. One research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $81.43.
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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