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Intuit (INTU) Beats Stock Market Upswing: What Investors Need to Know
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Intuit (INTU - Free Report) closed the most recent trading day at $652.88, moving +1.8% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.76%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 1.12%.
Shares of the maker of TurboTax, QuickBooks and other accounting software witnessed a gain of 2.61% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 4.99% and outperforming the S&P 500's gain of 2.5%.
The upcoming earnings release of Intuit will be of great interest to investors. In that report, analysts expect Intuit to post earnings of $2.29 per share. This would mark year-over-year growth of 4.09%. Meanwhile, the latest consensus estimate predicts the revenue to be $3.39 billion, indicating a 11.36% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.38 per share and revenue of $16.04 billion, indicating changes of +13.75% and +11.63%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Intuit is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Intuit is holding a Forward P/E ratio of 39.16. This indicates a premium in contrast to its industry's Forward P/E of 33.95.
It's also important to note that INTU currently trades at a PEG ratio of 2.65. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Software stocks are, on average, holding a PEG ratio of 2.33 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Intuit (INTU) Beats Stock Market Upswing: What Investors Need to Know
Intuit (INTU - Free Report) closed the most recent trading day at $652.88, moving +1.8% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.76%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 1.12%.
Shares of the maker of TurboTax, QuickBooks and other accounting software witnessed a gain of 2.61% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 4.99% and outperforming the S&P 500's gain of 2.5%.
The upcoming earnings release of Intuit will be of great interest to investors. In that report, analysts expect Intuit to post earnings of $2.29 per share. This would mark year-over-year growth of 4.09%. Meanwhile, the latest consensus estimate predicts the revenue to be $3.39 billion, indicating a 11.36% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $16.38 per share and revenue of $16.04 billion, indicating changes of +13.75% and +11.63%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Intuit is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Intuit is holding a Forward P/E ratio of 39.16. This indicates a premium in contrast to its industry's Forward P/E of 33.95.
It's also important to note that INTU currently trades at a PEG ratio of 2.65. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Software stocks are, on average, holding a PEG ratio of 2.33 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.