Intuit (NASDAQ:INTU) Stock Rating Reaffirmed by Morgan Stanley

Intuit (NASDAQ:INTU)‘s stock had its “buy” rating restated by equities research analysts at Morgan Stanley in a report issued on Tuesday, Analyst Price Targets reports. They presently have a $470.00 price target on the software maker’s stock. Morgan Stanley’s target price would indicate a potential upside of 17.19% from the company’s previous close.

Several other research analysts also recently weighed in on INTU. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of Intuit from $378.00 to $383.00 in a research report on Tuesday, December 22nd. Piper Sandler boosted their price target on shares of Intuit from $458.00 to $470.00 and gave the company an “overweight” rating in a report on Wednesday, March 3rd. Barclays boosted their price target on shares of Intuit from $455.00 to $480.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. Credit Suisse Group restated an “outperform” rating and set a $460.00 price target on shares of Intuit in a report on Monday, March 22nd. Finally, Smith Barney Citigroup boosted their price target on shares of Intuit from $378.00 to $383.00 in a report on Tuesday, December 22nd. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $426.05.

NASDAQ:INTU opened at $401.05 on Tuesday. The business’s 50-day moving average price is $391.35 and its 200 day moving average price is $365.48. The firm has a market cap of $109.82 billion, a P/E ratio of 53.83, a PEG ratio of 4.29 and a beta of 0.99. Intuit has a 52-week low of $240.38 and a 52-week high of $423.74. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.39.

Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, February 23rd. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.55. Intuit had a return on equity of 40.29% and a net margin of 25.10%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned $1.16 earnings per share. Intuit’s revenue was down 7.1% compared to the same quarter last year. Sell-side analysts expect that Intuit will post 5.87 EPS for the current year.

In other news, EVP James Alexander Chriss sold 364 shares of the stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $407.38, for a total transaction of $148,286.32. Following the transaction, the executive vice president now owns 221 shares in the company, valued at approximately $90,030.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michelle M. Clatterbuck sold 2,253 shares of the stock in a transaction on Tuesday, March 2nd. The stock was sold at an average price of $403.51, for a total transaction of $909,108.03. Following the transaction, the chief financial officer now owns 4,293 shares in the company, valued at approximately $1,732,268.43. The disclosure for this sale can be found here. Corporate insiders own 3.38% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of INTU. Wealth Alliance boosted its holdings in shares of Intuit by 10.6% during the 3rd quarter. Wealth Alliance now owns 1,103 shares of the software maker’s stock worth $360,000 after buying an additional 106 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Intuit by 199.2% during the 3rd quarter. Squarepoint Ops LLC now owns 233,884 shares of the software maker’s stock worth $76,295,000 after buying an additional 155,721 shares during the period. Paul John Balson boosted its holdings in shares of Intuit by 31.8% during the 3rd quarter. Paul John Balson now owns 1,460 shares of the software maker’s stock worth $476,000 after buying an additional 352 shares during the period. Lombard Odier Asset Management Switzerland SA bought a new stake in Intuit in the 3rd quarter valued at $1,065,000. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in Intuit in the 3rd quarter valued at $760,000. 84.79% of the stock is owned by institutional investors and hedge funds.

About Intuit

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Analyst Recommendations for Intuit (NASDAQ:INTU)

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