Intuit (NASDAQ:INTU) Issues Q2 Earnings Guidance

Intuit (NASDAQ:INTU) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $2.55-2.61 for the period, compared to the consensus EPS estimate of $3.25. The company issued revenue guidance of $3.812-3.845 billion, compared to the consensus revenue estimate of $3.88 billion. Intuit also updated its FY25 guidance to $19.16-19.36 EPS.

Intuit Stock Performance

INTU traded up $28.10 during trading on Thursday, hitting $678.70. The stock had a trading volume of 2,029,443 shares, compared to its average volume of 1,347,608. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a 50 day simple moving average of $634.46 and a 200-day simple moving average of $630.89. The firm has a market cap of $190.12 billion, a PE ratio of 62.26, a P/E/G ratio of 3.15 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts expect that Intuit will post 14.05 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on INTU shares. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Scotiabank started coverage on Intuit in a report on Monday. They set a “sector perform” rating and a $700.00 price objective for the company. Barclays increased their target price on shares of Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America increased their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $737.06.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This trade represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last three months. Insiders own 2.90% of the company’s stock.

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