In today’s recent session, 2.12 million shares of the Intuit Inc. (NASDAQ:INTU) have been traded, and its beta is 1.17. Most recently the company’s share price was $419.32, and it changed around -$30.48 or -6.78% from the last close, which brings the market valuation of the company to $126.65B. INTU at last check was trading at a discount to its 52-week high of $490.83, offering almost -17.05% off that amount. The share price’s 52-week low was $352.63, which indicates that the recent value has risen by an impressive 15.9% since then. We note from Intuit Inc.’s average daily trading volume that its 10-day average is 1.68 million shares, with the 3-month average coming to 1.64 million.
Intuit Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 1 out of 30 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 5 recommended INTU as a Hold, whereas 20 deemed it a Buy, and 0 rated it as Underweight. Intuit Inc. is expected to report earnings per share of $1.4 for the current quarter.
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Intuit Inc. (NASDAQ:INTU) trade information
Instantly INTU has been showing red trend so far today with a performance of -6.78% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 460.75 on Tuesday, 05/23/23 increased the stock’s daily price by 8.99%. The company’s shares are currently up 7.73% year-to-date, but still down -2.90% over the last five days. On the other hand, Intuit Inc. (NASDAQ:INTU) is -0.12% down in the 30-day period. We can see from the shorts that 3.73 million shares have been sold at a short interest cover period of 2.72 day(s).
The consensus price target as assigned by Wall Street analysts is $483.04, which translates to bulls needing to increase their stock price by 13.19% from its current value. Analyst projections state that INTU is forecast to be at a low of $340.00 and a high of $565.00. In order for the stock price to hit the forecast high, the stock would need to plunge -34.74% from its current level, while the stock would need to crash 18.92% from its current level to reach the projected low.
Intuit Inc. (INTU) estimates and forecasts
Intuit Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 11.82 percent over the past six months and at a 15.70% annual growth rate that is well above the industry average of 13.90%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 27.30% in revenue this quarter, and will report an increase of 11.40% in the next quarter. The year-over-year growth rate is expected to be 3.00%, up from the previous year.
Consensus estimates provided by 20 financial analysts predict the company will bring in an average of $2.26 billion in revenue for the current quarter. 11 analysts expect Intuit Inc. to make $2.65 billion in revenue for the quarter ending Oct 2023. Analysts predict that the company’s current quarter sales will drop, forecast at -6.20%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 14.00%. Intuit Inc. earnings are expected to increase by -3.70% in 2023, but the outlook is positive 14.66% per year for the next five years.
Intuit Inc.’s next quarterly earnings report is expected to be released around August 21 and August 25. The annual dividend yield of the stock is 0.69 percent and its annual dividend per share was 3.12. It is important to note, however, that the 0.69% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Intuit Inc. (NASDAQ:INTU)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.87% of Intuit Inc. shares, and 87.28% of them are in the hands of institutional investors. The stock currently has a share float of 89.85%. Intuit Inc. stock is held by 2,214 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 8.88% of the shares, which is about 24.91 million shares worth $11.11 billion.
Blackrock Inc., with 8.36% or 23.45 million shares worth $10.45 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 8.11 million shares worth $3.16 billion, making up 2.89% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 6.52 million shares worth around $2.54 billion, which represents about 2.32% of the total shares outstanding.