Intuit Sees Strong Trading Volume Following Analyst Upgrade (INTU)
Intuit (NASDAQ:INTU) shares saw an uptick in trading volume on Monday after Barclays raised their price target on the stock from $69.00 to $90.00, AnalystRatingsNetwork reports. Barclays currently has an equal weight rating on the stock. 2,342,339 shares were traded during trading, an increase of 43% from the previous session’s volume of 1,633,316 shares.The stock last traded at $82.97 and had previously closed at $83.57.
Several other analysts have also recently commented on the stock. 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. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Intuit in a research note on Wednesday, August 20th. They now have a $66.00 price target on the stock, down previously from $72.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Intuit in a research note on Wednesday, May 28th. They now have a $84.00 price target on the stock, up previously from $77.00. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.43.
The stock’s 50-day moving average is $82.20 and its 200-day moving average is $78.46. The company has a market cap of $23.565 billion and a P/E ratio of 27.06.
Intuit (NASDAQ:INTU) last released its earnings data on Thursday, August 21st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the 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. On average, analysts predict that Intuit will post $2.92 earnings per share for the current fiscal year.
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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