Intuit (INTU) Received its Third Buy in a Row


After Oppenheimer and RBC Capital gave Intuit (NASDAQ: INTU) a Buy rating last month, the company received another Buy, this time from Merrill Lynch. Analyst Kash Rangan reiterated a Buy rating on Intuit today and set a price target of $264. The company’s shares closed yesterday at $241.31.

According to TipRanks.com, Rangan is a 5-star analyst with an average return of 13.7% and a 67.8% success rate. Rangan covers the Technology sector, focusing on stocks such as Zoom Video Communications Inc Class A, Salesforce.com, and Cloudera Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intuit with a $266.11 average price target, representing a 10.3% upside. In a report released today, KeyBanc also maintained a Buy rating on the stock with a $285 price target.

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Based on Intuit’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $1.5 billion and net profit of $189 million. In comparison, last year the company earned revenue of $2.93 billion and had a net profit of $1.2 billion.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Intuit, Inc. is a financial management and compliance platform company, which engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner.

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