Intuit (INTU) Stock Shows Resilience in Volatile Market
Intuit (INTU) closed the recent trading session at $632.31, marking a +0.87% increase from the previous day’s closing price. The stock outperformed the S&P 500, which saw a gain of 0.17%, while the Dow gained 0.32% and the Nasdaq dipped by 0.03%.
Despite a slight decrease of 0.14% over the past month, Intuit, the maker of TurboTax and QuickBooks, is gearing up for its upcoming earnings release on May 23, 2024. Analysts are anticipating an EPS of $9.34, a 4.71% increase from the previous year, with revenue expected to reach $6.64 billion, a 10.25% growth year-over-year.
The Zacks Consensus Estimates for the annual period forecast earnings of $16.41 per share and revenue of $16.04 billion, showing positive shifts of +13.96% and +11.61%, respectively, from the previous year.
Recent changes in analyst estimates for Intuit reflect a positive outlook on the company’s business health and profitability. The Zacks Rank system, which rates stocks from #1 (Strong Buy) to #5 (Strong Sell), currently places Intuit at #3 (Hold).
In terms of valuation, Intuit is trading with a Forward P/E ratio of 38.2, indicating a premium compared to the industry average of 29.27. The stock also has a PEG ratio of 2.62, higher than the industry average of 2.39.
The Computer – Software industry, to which Intuit belongs, is part of the Computer and Technology sector and currently holds a Zacks Industry Rank of 84, placing it in the top 34% of all industries.
Investors are advised to keep an eye on Intuit’s performance in the coming trading sessions, utilizing Zacks.com for comprehensive stock analysis and recommendations. Download the 7 Best Stocks for the Next 30 Days from Zacks Investment Research for the latest insights.
