Intuit Inc. (INTU), based in Mountain View, California, is a leading financial management and tax preparation software company with a market cap of $171.6 billion. It is best known for products like QuickBooks, TurboTax, and Mint, which assist users in managing their finances more easily. The company is set to announce its Q1 earnings on Tuesday, Nov. 26.
Profit Expectations and Recent Performance
Analysts predict Intuit will report a profit of $1.05 per share, down 7.9% from $1.14 during the same period last year. Historically, Intuit has exceeded Wall Street’s earnings estimates for the last four quarters.
In its most recently reported quarter, Intuit achieved earnings of $0.61 per share, which beat expectations by 13%. This positive outcome was driven by strong demand for its core products and successful cost management strategies that led to year-over-year earnings growth.
Looking Ahead: Futures and Projections
For fiscal 2025, analysts project Intuit’s earnings per share (EPS) to reach $14.04, representing a robust 20.9% increase from $11.61 in fiscal 2024.
Stock Performance and Market Context
Year-to-date, INTU shares are down marginally, significantly trailing the broader S&P 500 Index, which is up 22.3%, and the Technology Select Sector SPDR Fund, which has gained 21.2% over the same period.
Intuit’s weaker stock performance relative to its sector stemmed from a decrease in demand for its financial software products. Following disappointing Q4 earnings released on Aug. 22, the stock fell 8.3%, primarily due to lower-than-expected billings and gross margin declines along with reduced long-term growth forecasts for important segments. Nonetheless, total revenue rose by 17% to $3.2 billion during that quarter.
Analyst Ratings for INTU Stock
Despite recent challenges, the consensus on INTU stock remains positive, with a “Strong Buy” rating overall. Among 27 analysts covering the stock, 21 suggest a “Strong Buy,” one recommends a “Moderate Buy,” and five recommend “Hold.”
INTU’s average analyst price target is $727.96, indicating a potential upside of 16.7% from its current levels.
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On the date of publication, Rashmi Kumari did not hold any positions, directly or indirectly, in the securities mentioned in this article. All information is purely for informational purposes. For more details, please view the Barchart Disclosure Policy here.
The views expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
