Mizuho Cuts Intuit (NASDAQ:INTU) Price Target to $430.00

Intuit (NASDAQ:INTU) had its price target decreased by Mizuho from $500.00 to $430.00 in a research note issued to investors on Monday, MarketBeat.com reports. Mizuho currently has an outperform rating on the software maker’s stock.

Other equities analysts have also recently issued research reports about the company. Erste Group Bank upgraded Intuit to a “hold” rating in a report on Monday, April 27th. Bank of America began coverage on Intuit in a research report on Wednesday, May 27th. They set a “buy” rating and a $400.00 target price for the company. Piper Sandler started coverage on shares of Intuit in a report on Tuesday, July 14th. They issued an “underweight” rating and a $250.00 target price for the company. Stifel Nicolaus restated a “hold” rating and issued a $275.00 price target (down from $375.00) on shares of Intuit in a research report on Wednesday, June 17th. Finally, BMO Capital Markets decreased their price target on shares of Intuit from $550.00 to $412.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Twenty investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $451.26.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $362.47 on Monday. The company has a market cap of $99.15 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.11 and a beta of 0.97. Intuit has a 52-week low of $252.84 and a 52-week high of $705.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.45 and a current ratio of 1.45. The firm’s fifty day moving average is $295.58 and its two-hundred day moving average is $360.88.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, beating the consensus estimate of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the prior year, the firm earned $11.65 EPS. The business’s revenue was up 10.4% on a year-over-year basis. As a group, analysts anticipate that Intuit will post 18.18 EPS for the current fiscal year.

Insider Activity at Intuit

In related news, Director Vasant M. Prabhu purchased 500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $309.71 per share, for a total transaction of $154,855.00. Following the acquisition, the director owned 1,750 shares of the company’s stock, valued at approximately $541,992.50. This represents a 40.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard L. Dalzell sold 284 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total value of $74,498.88. Following the completion of the sale, the director owned 11,758 shares of the company’s stock, valued at approximately $3,084,358.56. This represents a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,239 shares of company stock valued at $348,354 over the last ninety days. Corporate insiders own 2.49% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INTU. Rakuten Investment Management Inc. increased its stake in Intuit by 522.3% in the 4th quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker’s stock worth $34,852,000 after buying an additional 43,389 shares during the period. Bank of New York Mellon Corp boosted its position in Intuit by 20.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker’s stock valued at $1,848,954,000 after buying an additional 471,451 shares during the period. Vestcor Inc grew its stake in Intuit by 79.1% in the 4th quarter. Vestcor Inc now owns 20,717 shares of the software maker’s stock worth $13,723,000 after acquiring an additional 9,148 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Intuit by 119.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker’s stock worth $37,452,000 after acquiring an additional 47,148 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Intuit by 13.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 59,974 shares of the software maker’s stock worth $39,728,000 after acquiring an additional 6,999 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit benefited from a broader rotation into enterprise software after weakness in AI hardware stocks. The move suggests traders are reassessing the durability and valuation of software businesses, although it may be a short-term sector trade. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Investor commentary highlighted Intuit’s potential to use AI through its AI-native enterprise resource planning products and Intuit Intelligence chat. A separate investment analysis argued that tax preparation and AI could complement one another, supporting the long-term growth narrative. Intuit Expanding AI-Native ERP
• Positive Sentiment: A GuruFocus analysis cited a GF Score of 78, reflecting relatively favorable quality, growth, profitability, and valuation characteristics. Intuit’s latest reported quarter also showed year-over-year revenue growth and an earnings-per-share beat, providing fundamental support for the rebound. Intuit GF Score Analysis

About Intuit

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.