Intuit (INTU) Beats Stock Market Upswing: What Investors Need to Know

Intuit (INTU) ended the recent trading session at $632.31, demonstrating a +0.87% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.17% for the day. On the other hand, the Dow registered a gain of 0.32%, and the technology-centric Nasdaq decreased by 0.03%.

Shares of the maker of TurboTax, QuickBooks and other accounting software have depreciated by 0.14% over the course of the past month, underperforming the Computer and Technology sector's gain of 0.39% and the S&P 500's gain of 0.17%.

The investment community will be paying close attention to the earnings performance of Intuit in its upcoming release. The company is slated to reveal its earnings on May 23, 2024. It is anticipated that the company will report an EPS of $9.34, marking a 4.71% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.64 billion, indicating a 10.25% growth compared to the corresponding quarter of the prior year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $16.41 per share and a revenue of $16.04 billion, signifying shifts of +13.96% and +11.61%, respectively, from the last year.

Investors might also notice recent changes to analyst estimates for Intuit. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Intuit holds a Zacks Rank of #3 (Hold).

In the context of valuation, Intuit is at present trading with a Forward P/E ratio of 38.2. This expresses a premium compared to the average Forward P/E of 29.27 of its industry.

Investors should also note that INTU has a PEG ratio of 2.62 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Software was holding an average PEG ratio of 2.39 at yesterday's closing price.

The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 84, finds itself in the top 34% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Free Report – The Bitcoin Profit Phenomenon

Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.

No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.

Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.

Download Now – Today It’s FREE >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Intuit Inc. (INTU) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.