In a report released today, Scott Schneeberger from Oppenheimer maintained a Buy rating on Intuit (INTU), with a price target of $441.00. The company’s shares closed last Tuesday at $399.09, close to its 52-week high of $423.74.
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 11.5% and a 63.8% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service International, Stericycle, and H&R Block.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Intuit with a $449.27 average price target, representing a 12.8% upside. In a report issued on February 19, Barclays also maintained a Buy rating on the stock with a $480.00 price target.
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Based on Intuit’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $1.32 billion and net profit of $198 million. In comparison, last year the company earned revenue of $1.17 billion and had a net profit of $57 million.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INTU in relation to earlier this year.
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Intuit, Inc. 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. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses. The Consumer segment includes do-it-yourself and assisted TurboTax income tax preparation products and services. The Strategic Partner segment comprises professional tax offerings, which include Lacerte, ProSeries, ProFile, and ProConnect Tax Online among professional accountants. The company was founded by Scott D. Cook and Thomas A. Proulx in March 1983 and is headquartered in Mountain View, CA.
