Intuit (NASDAQ:INTU) Price Target Raised to $800.00 at Jefferies Financial Group

Intuit (NASDAQ:INTU) had its price target upped by Jefferies Financial Group from $790.00 to $800.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other analysts have also issued reports on the stock. Piper Sandler reduced their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday. BMO Capital Markets increased their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Scotiabank began coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. Six 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, Intuit has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Price Performance

INTU stock opened at $640.12 on Friday. 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 one year low of $557.29 and a one year high of $714.78. The firm has a market capitalization of $179.31 billion, a PE ratio of 62.15, a P/E/G ratio of 3.32 and a beta of 1.25. The firm has a 50-day moving average of $634.81 and a two-hundred day moving average of $631.27.

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

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 over the last 90 days. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

Hedge funds and other institutional investors have recently modified their holdings of the stock. LGT Financial Advisors LLC bought a new position in Intuit in the second quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC acquired a new stake in Intuit in the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.