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Valued at $177.9 billion by market cap and headquartered in California, Intuit Inc. (INTU) is a global business and financial software company that provides accounting, tax preparation, and financial services for small businesses, consumers, and accounting professionals. Intuit is set to announce its Q4 earnings for fiscal 2024 on Thursday, Aug 22.
Ahead of the event, analysts expect Intuit to report a profit of $0.54 per share, up 35% from $0.40 per share in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in each of the last four quarters.
Looking ahead, analysts expect Intuit to report an EPS of $11.72 in fiscal 2024, up 21.7% from $9.63 in fiscal year 2023. Its fiscal 2025 EPS is projected to rise 16% year over year to $13.60.
INTU’s stock has rallied 24.2% over the past 52 weeks, outperforming the broader S&P 500 Index's ($SPX) 18.6% gains and the Technology Select Sector SPDR Fund’s (XLK) 18% returns during the same period.
On May 23, Intuit announced its Q3 earnings report, following which INTU shares lost more than 15% in the subsequent trading sessions. Despite beating top-line and bottom-line estimates, the company forecasted Q4 adjusted EPS between $1.80 and $1.85, below the consensus estimate of $1.93.
However, the current consensus view on Intuit stock is bullish, with a “Strong Buy” rating overall. Among the 27 analysts covering the stock, 22 recommend a "Strong Buy,” one analyst advises a "Moderate Buy," and the remaining four analysts suggest a “Hold.”
The average price target for Intuit is $709.29, indicating a potential upside of 11.6% from the current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
