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- 1 Intuit Inc’s stock price surged over 17.61% half yearly; it will soon hit the annual price target.
- 2 In Q1 2023, Intuit Inc estimated revenue was $2.50 Billion, but the reported income was $2.60 Billion.
Intuit Inc. (NASDAQ: INTU) Stock added $0.31 to its trading price on the June 22 trading session. It opened trading at $448.75, dipped to $445.65, hit a high of $451.76, and closed trading at $450.84 with an intraday trading volume of 1.035 Million.
INTU Stock prices rose 1.96% weekly, more than 3% quarterly, and 17.61% half-yearly. After analyzing the technical aspects of Intuit Inc Stock, it is easy to predict that its ongoing movement would be profitable for investors.
As per financial experts of the stock market, the current trading prices of INTU Stock are favorable for investors. They could move forward and purchase more and more company stock in order to gain long-term profits.
The annual price target of Intuit Inc stock is $487.84, and the current trading price is $450.84. The company’s overall market capitalization is $126.262 billion, with an average trading volume of 1.609 Million.
In the 52-week trading session, INTU Stock’s highest trading price was $490.83, while the lowest was $352.63. Intuit Inc generated $12.73 billion in 2022, constituting $2.07 billion of net income and 16.23% of profit margin.
Intuit Inc (NASDAQ: INTU) Earnings and Revenue
In Q1 2023, Intuit Inc’s estimated revenue was $2.50 billion, but the reported revenue was $2.60 billion, which was 3.99% more than the estimated amount. Similarly, in Q2, the reported revenue was 4.48% higher than the estimation.
In Q3, the reported revenue slipped over 1.20% when compared to the estimated figures. It is believed that in Q4, the company might report a revenue of $2.64 Billion. However, INTU’s Earnings Per Share (EPS) has constantly impressed its investors by reporting 39.03% in Q1, 49.91% in Q2, and 5.21% in the third quarter of 2023.
The revenue and profit conversion of the company constitutes 78% of gross profit, 27% of Ebitda, 21% of Ebit, and 16% of net income. According to TradingView, more than 272.06 million INTU Shares are free-floating, and around 8 million shares are closely held by either the company’s financial backers or by the board members.
Intuit Inc. generates revenue from the following sectors: Small Businesses & Self-Employed, Consumers, Credit Karma, and ProConnect. The United States plays a significant role in the company’s revenue generation, and the company majorly operates in this region.
Data of Nasdaq (dot) com states that INTU shares are majorly held by 1,738 institutions, including Vanguard Group Inc, BlackRock Inc, Prime T Rowe Associates Inc, State Street Corp, JPMorgan Chase, Geode Capital Management LLC, Morgan Stanley, and Northern Trust Corp.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
