Intuit (NASDAQ:INTU) Stock Price Expected to Rise, Oppenheimer Analyst Says

Key Points

• Oppenheimer analysts have raised their price target on Intuit (NASDAQ:INTU) from $742.00 to $868.00, indicating a potential upside of 9.47% from its current price and maintaining an "outperform" rating.
• Overall, Intuit has received positive feedback from multiple research firms, with target price increases from Stifel Nicolaus and Piper Sandler, while maintaining a consensus rating of "Moderate Buy" and a target of $806.27.
• Intuit reported strong quarterly earnings, with an EPS of $11.65 surpassing estimates, and showed a 15.1% revenue growth compared to the previous year, generating $7.75 billion in revenue.

Intuit (NASDAQ:INTU - Get Free Report) had its price target boosted by research analysts at Oppenheimer from $742.00 to $868.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the software maker's stock. Oppenheimer's price objective would indicate a potential upside of 9.47% from the company's current price.

Several other research firms have also commented on INTU. Stifel Nicolaus raised their target price on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Susquehanna reiterated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Piper Sandler reiterated an "overweight" rating and issued a $825.00 price objective (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, Barclays reiterated an "overweight" rating and issued a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $806.27.

Intuit Trading Up 0.9%

Shares of NASDAQ:INTU traded up $6.98 during trading hours on Monday, hitting $792.93. 424,729 shares of the company's stock traded hands, compared to its average volume of 1,767,277. Intuit has a 1 year low of $532.65 and a 1 year high of $794.70. The business has a fifty day moving average price of $755.39 and a 200-day moving average price of $656.22. The firm has a market capitalization of $221.19 billion, a P/E ratio of 64.24, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the business posted $9.88 EPS. The company's quarterly revenue was up 15.1% compared to the same quarter last year. Equities analysts expect that Intuit will post 14.09 earnings per share for the current year.

Insider Activity

In other news, CFO Sandeep Aujla sold 2,591 shares of Intuit stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total value of $2,026,732.02. Following the transaction, the chief financial officer directly owned 768 shares of the company's stock, valued at $600,744.96. The trade was a 77.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Lauren D. Hotz sold 1,738 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the sale, the chief accounting officer owned 455 shares of the company's stock, valued at approximately $356,760.95. This represents a 79.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 in the last quarter. Corporate insiders own 2.68% of the company's stock.

Institutional Trading of Intuit

Several large investors have recently added to or reduced their stakes in INTU. Copia Wealth Management acquired a new position in Intuit during the 4th quarter worth $25,000. Summit Securities Group LLC acquired a new position in shares of Intuit during the fourth quarter valued at $28,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the fourth quarter valued at $28,000. Dogwood Wealth Management LLC increased its holdings in shares of Intuit by 111.8% during the second quarter. Dogwood Wealth Management LLC now owns 36 shares of the software maker's stock valued at $28,000 after purchasing an additional 19 shares during the period. Finally, Vista Cima Wealth Management LLC acquired a new position in shares of Intuit during the first quarter valued at $31,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Company Profile

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.

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