Intuit Inc. (INTU) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Intuit Inc. (NASDAQ: INTU) is a leading financial management software company based in Mountain View, California. Founded in 1983 and incorporated in 1984, Intuit specializes in creating innovative products designed to streamline financial tasks for individuals and businesses. Notable offerings include QuickBooks, which caters to small businesses and self-employed individuals, TurboTax for consumer tax preparation, and Credit Karma, providing personal finance insights and credit monitoring services. With a reported total revenue nearing $16.29 billion, Intuit showcases resilience in the competitive software application industry, reinforcing its strong market position and growth potential.
Financial Performance
Intuit’s financial outlook remains bullish, with analysts projecting a target price of $795.00, suggesting significant upside from its current trading price of $644.99. This valuation approach is supported by a target mean price of $726.26, indicating a solid benchmark for future performance. The company currently has 280,292,000 outstanding shares, with only about 3,161,274 shares sold short, reflecting a minimal short interest of roughly 0.0116%. This low short selling suggests overall investor confidence in the company’s sustained performance. Additionally, Intuit’s fifty-day moving average stands at $637.05, demonstrating a positive short-term trend as its current price exceeds this average.
Analyst Recommendations
The consensus among analysts is a “buy” rating, characterized by a recommendation mean score of 2.0 based on 25 analyst opinions. With a projected target high of $795.00 and a target low of $581.00, there’s clear optimism regarding Intuit’s growth trajectory. Over the past year, the stock has shown volatility, reflecting a fifty-two week high of $676.62 and a low of $473.56. These price fluctuations highlight the impact of market conditions on investor sentiment, but overall data suggests a favorable investment climate with ample opportunities for growth in Intuit Inc.’s future performance.
In summary, Intuit Inc. stands as a strong contender in the software application space, driving innovative solutions for financial management while remaining an appealing option for investors looking for potential upside in a rapidly evolving technology landscape.
| Metric | Value |
|---|---|
| Market Cap | $180.8b |
| Total Debt | N/A |
| Total Cash | N/A |
| Shares Outstanding | 280.3m |
| Float Shares | 272.6m |
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