Intuit Inc.’s Stock Price Stumbles, Dipping 5.90% to $562.97: Is it Time to Buy?

Intuit Inc. (INTU)

562.97 USD -35.31 (-5.90%) Volume: 3.41M

Intuit Inc.’s stock price stands at 562.97 USD, witnessing a significant drop of -5.90% this trading session with a trading volume of 3.41M, further reflecting the year-to-date (YTD) price depreciation of -9.93% that continues to affect its market performance.

Latest developments on Intuit Inc.

Intuit Inc. has been experiencing fluctuations in its stock price recently, with insider sales by EVP and CFO Sandeep Aujla and EVP Mark Notarainni. Despite this, the company’s stock underperformed compared to competitors on Tuesday. Investment analysts have been closely monitoring Intuit’s performance, with some upgrading the stock to “Buy”. Additionally, new small business grants from Intuit QuickBooks have become available, attracting attention from small business owners. The company’s executive, Mark Notarainni, is set to present at the Bank of America Global Technology Conference, indicating potential future developments. With Elevatus Wealth Management increasing their stake in Intuit, it will be interesting to see how these events impact the company’s stock price moving forward.

Intuit Inc. on Smartkarma

Analysts at Baptista Research have published insightful reports on Intuit Inc. One report titled “Intuit Inc.: How Significant Are Their Advancements In Artificial Intelligence Capabilities? – Financial Forecasts” discusses the company’s strong performance in the second quarter of fiscal year 2024. Intuit’s revenue grew by 11%, showcasing its commitment to becoming an AI-driven expert platform. The report also highlights an expected 7% to 8% revenue growth for Intuit’s tax service, TurboTax, in the Consumer Group for the full fiscal year.

Another report by Baptista Research, titled “Intuit Inc.: Revolutionizing Business Payments With Quickbooks Bill Pay! – Major Drivers,” praises Intuit Inc.’s impressive performance 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 in line with Q1 expectations due to prevailing macroeconomic conditions.

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 a positive long-term outlook based on its Smartkarma Smart Scores. With a Growth score of 4 and Momentum score of 4, the company is positioned well for future expansion and market performance. Additionally, its Value score of 3 indicates that the company’s stock may be considered fairly priced. Intuit’s Resilience score of 3 suggests that the company has the ability to withstand economic challenges and market fluctuations. Overall, Intuit’s Smart Scores point towards a promising future for the company.

Intuit Inc. is a leading developer and marketer of business and financial management software solutions. Catering to small and medium-sized businesses, financial institutions, consumers, and accounting professionals, Intuit offers a range of software for various financial needs. With a Dividend score of 3, the company may provide a steady income stream for investors. Combining its strong Growth and Momentum scores, Intuit Inc. appears to be a solid investment option for those looking for long-term growth potential in the software industry.

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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