Intuit (NASDAQ:INTU) Price Target Raised to $315.00 at Royal Bank of Canada

Intuit (NASDAQ:INTU) had its target price upped by Royal Bank of Canada from $280.00 to $315.00 in a report released on Friday morning, The Fly reports. Royal Bank of Canada currently has an outperform rating on the software maker’s stock.

A number of other equities research analysts have also issued reports on INTU. Morgan Stanley lifted their target price on shares of Intuit from $277.00 to $290.00 and gave the company an equal weight rating in a research note on Friday. Cfra lowered shares of Intuit from a hold rating to a sell rating in a research note on Monday, April 6th. Citigroup lifted their target price on shares of Intuit from $272.00 to $292.00 and gave the company a neutral rating in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of Intuit from $268.00 to $249.00 and set an underweight rating for the company in a research note on Thursday, March 26th. Finally, Barclays lifted their target price on shares of Intuit from $295.00 to $300.00 and gave the company an equal weight rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Intuit presently has an average rating of Buy and an average target price of $306.00.

Intuit stock traded down $2.39 during midday trading on Friday, reaching $287.61. The stock had a trading volume of 1,738,172 shares, compared to its average volume of 1,095,271. The firm’s fifty day simple moving average is $262.98 and its two-hundred day simple moving average is $266.23. Intuit has a twelve month low of $187.68 and a twelve month high of $306.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market cap of $75.54 billion, a price-to-earnings ratio of 56.73, a PEG ratio of 3.89 and a beta of 1.05.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.60 by ($0.11). The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3 billion. Intuit had a return on equity of 34.27% and a net margin of 19.50%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $5.55 EPS. As a group, sell-side analysts predict that Intuit will post 5.85 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Atlas Private Wealth Management bought a new position in Intuit in the 4th quarter worth $26,000. Virtus ETF Advisers LLC bought a new position in Intuit in the 4th quarter worth $31,000. Laurel Wealth Advisors LLC raised its holdings in Intuit by 50.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after acquiring an additional 40 shares during the period. Ameritas Investment Company LLC raised its holdings in Intuit by 958.3% in the 4th quarter. Ameritas Investment Company LLC now owns 127 shares of the software maker’s stock worth $33,000 after acquiring an additional 115 shares during the period. Finally, Aigen Investment Management LP bought a new position in Intuit in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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