Intuit (NASDAQ: INTU) stock price is performing bullish while making an upside price surge in the longer time period. With the bullish market trend, INTU’s share price has reached nearly its overbought zone. It further indicates the increased trust of investors in Intuit Inc. Notably, in the last 1 year, the stock price rose 27.17% whereas its year-to-date (YTD) price growth is 22%. Moreover, the 1-month price gain in INTU share price is over 8%.
INTU Stock Price Analysis
INTU stock price closed at $483.99 by adding $2.64 and with a 0.55% price gain, on July 14, 2023, Friday. In the weekend trading session, the stock price opened at $479.00, a noted high at $486.48 while low at $478.43. In this week, INTU share price has grown 7.38% with bulls’ dominance. However, bears also have tried to showcase their dominance but with increased bulls dominance, INTU share price traveled upside.
As the above price analysis chart shows, this week INTU share price surpassed its 20-day moving average. The support of active bulls with an average trading volume took the RSI of the stock to the overbought zone. During Mid-May 2023, when the company released its Q3 2023 report, the stock was trading near its 100 and 200-day moving average, which has made a rising graph.
Furthermore, the analysts have set their 1-year price target for INTU share price which is resting at $487.84. It is up nearly by 0.79% from the recent closing price of stock. Whereas, they have a maximum estimate of $565.00 with the minimum estimate of $340.00, as seen in the above price chart. On the other hand, in the past 3-months, the analysts have given a “buy” rating to Intuit Inc.
The Fundamentals of Intuit Inc.
On May 23, 2023, Intuit Inc., an American business software company, released its third quarter (Q3) 2023 report. According to its Q3 2023 report, its net income is $2.09 Billion. Whereas, INTU price-to-sales ratio is 9.68 and the company has an Enterprise Value to EBITDA ratio of 34.81. INTU dividends are paid quarterly and the last dividend per share was $0.78. As of now, Dividend Yield (TTM)% is 0.63%.
The American business software company has a market cap of nearly $135.54 Billion. The reported earnings per share (EPS) in Q3 2023 is $8.92 whereas the estimate was $8.48 which accounts for a 5.21% surprise. The reported revenue of Intuit Inc. is $6.02 Billion as the estimate was $6.09 Billion. The estimated EPS for the upcoming fourth quarter (Q4) report is $1.44 and revenue is expected to reach $2.64 Billion.
For the last year, the revenue of Intuit Inc. reached $12.73 Billion. Most of this, almost $6.46 Billion, came from its highest performing source at the moment, Small Business & Self-employed. Meanwhile, the most contribution to the revenue figure was made by the U.S. which last year brought Intuit Inc. to $12.73 Billion.
According to Yahoo Finance, the U.S.-based business news platform, over 87% of INTU shares are held by institutions while Vanguard Group, Inc., Blackrock Inc., and Price (T.Rowe) Associates Inc. are the leading institutional holders. Moreover, 2.87% of the company’s shares are held by all insiders.
