Intuit (NASDAQ:INTU) Releases Q2 Earnings Guidance

Intuit (NASDAQ:INTU) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.55-2.61 for the period, compared to the consensus 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 Trading Down 5.7 %

Intuit stock opened at $640.12 on Friday. The stock has a 50-day simple moving average of $634.81 and a 200 day simple moving average of $631.27. The stock has a market capitalization of $179.31 billion, a P/E ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on INTU. Morgan Stanley increased their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday. Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Piper Sandler decreased their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. This represents a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 over the last 90 days. Company 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.