Intuit Inc.’s Stock Price Drops to $606.99, Suffering a Significant 8.35% Decline

Intuit Inc. (INTU)

606.99 USD -55.27 (-8.35%) Volume: 4.25M

Intuit Inc.’s stock price stands at 606.99 USD, witnessing a significant drop of -8.35% this trading session, with a trading volume of 4.25M. Despite a year-to-date percentage change of -2.89%, Intuit Inc. (INTU) continues to be a stock to watch in the market.

Latest developments on Intuit Inc.

Intuit Inc‘s stock price movements today were influenced by various factors, including the loss of 1 million free TurboTax users this tax season. Despite warning of fewer free users, Intuit reported beating earnings estimates in Q3 2024, with revenues rising year over year. However, the stock fell on Q4 guidance and a drop in TurboTax free users. Analysts revised their forecasts following the results, with Jefferies raising the price target for Intuit. The company remains focused on AI and the assisted segment to end FY24 on a high note. Institutional investors may take action after the recent stock drop, which added to year losses. Overall, Intuit’s strategic moves and financial performance continue to impact its stock price in the market.

Intuit Inc. on Smartkarma

Analysts on Smartkarma, such as Baptista Research, have been covering Intuit Inc and providing insights on the company’s performance. In one report titled “Intuit Inc.: How Significant Are Their Advancements In Artificial Intelligence Capabilities? – Financial Forecasts,” Intuit’s strong performance in the second quarter of fiscal year 2024 was highlighted. The company is focusing on becoming an AI-driven expert platform, with an 11% revenue growth reported and on track to achieve its full fiscal year guidance. Additionally, Intuit’s tax service, TurboTax, is expected to see a revenue growth of 7% to 8% for the Consumer Group for the full fiscal year.

Another report by Baptista Research, “Intuit Inc.: Revolutionizing Business Payments With Quickbooks Bill Pay! – Major Drivers,” discussed Intuit’s recent success in the previous quarter. The company saw a 15% growth in total revenue, with significant increases in revenue for the Small Business and Self-Employed Group as well as the Consumer Group. However, there was a 5% decline in Credit Karma revenue, which was expected due to prevailing macroeconomic conditions. Overall, analysts are optimistic about Intuit’s performance and its potential for growth in the future.

A look at Intuit Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Intuit Inc. has received a mixed outlook based on the Smartkarma Smart Scores. While the company scored well in terms of growth and momentum, indicating positive future prospects, its value and resilience scores were lower. This suggests that while Intuit Inc. may see growth and strong performance in the near future, investors should be cautious of potential risks and fluctuations in the market.

Overall, Intuit Inc. is a company that focuses on developing and marketing software solutions for businesses and financial management. With a strong emphasis on small and medium-sized businesses, financial institutions, consumers, and accounting professionals, Intuit Inc. provides a range of software for various financial needs such as small business management, payroll processing, personal finance, and tax preparation. The company’s Smart Scores indicate a promising outlook for growth and momentum, although its value and resilience scores suggest some areas for potential improvement.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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