Oppenheimer analyst Scott Schneeberger maintained a Buy rating on Intuit (NASDAQ: INTU) today and set a price target of $239. The company’s shares closed yesterday at $222.82, close to its 52-week high of $229.86.
Schneeberger wrote:
“Day was well organized/presented. A key highlight was the Consumer segment long-term revenue growth objective increasing from 5-10% to 8-12% and the company’s long-term addressable revenue opportunity increasing from $145B to $173B via core growth/global expansion/connecting customers- partners-products across the core. We were intrigued with Intuit’s incremental pursuit of the mid-market via “QBO and particularly with its TurboTax Live opportunity/initial progress in Consumer. Providing favorable data points substantiating the strength of its inaugural year of TurboTax Live, such as improved conversions and retention/revenue per return/even new filer acquisition, we view Intuit’s foray into assisted tax preparation as transformational. Incremental TurboTax Live enhancements should drive elevated growth for years to come. Maintaining Outperform, our target increases from $224 to $239.”
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 12.1% and a 69.5% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, Landstar System Inc, and General Finance.
Intuit has an analyst consensus of Moderate Buy, with a price target consensus of $224.71.
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Intuit’s market cap is currently $57.62B and has a P/E ratio of 48.27. The company has a Price to Book ratio of 24.48.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Brad D. Smith, the COB, CEO & Pres of INTU sold 254,325 shares for a total of $57,897,699.
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.
