Intuit (NASDAQ:INTU) Issues Q2 Earnings Guidance

Intuit (NASDAQ:INTU) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $2.55-2.61 for the period, compared to the consensus earnings per share 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

Shares of INTU stock opened at $640.12 on Friday. Intuit has a one year low of $557.29 and a one year high of $714.78. The firm has a 50-day moving average of $634.81 and a 200-day moving average of $631.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $179.31 billion, a P/E ratio of 62.15, a P/E/G ratio of 3.32 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.28% and a net margin of 17.59%. Intuit’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $1.14 earnings per share. Equities research analysts forecast that Intuit will post 14.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday. Stifel Nicolaus cut their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $737.44.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The trade was a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by corporate insiders.

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.