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Intuit (INTU) Gains As Market Dips: What You Should Know
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Intuit (INTU - Free Report) closed the most recent trading day at $421.97, moving +0.93% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Coming into today, shares of the maker of TurboTax, QuickBooks and other accounting software had gained 6.33% in the past month. In that same time, the Computer and Technology sector gained 8.43%, while the S&P 500 gained 3.6%.
Intuit will be looking to display strength as it nears its next earnings release, which is expected to be February 23, 2023. The company is expected to report EPS of $1.43, down 7.74% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.9 billion, up 8.44% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.64 per share and revenue of $14.1 billion, which would represent changes of +15.11% and +10.8%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Intuit is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Intuit currently has a Forward P/E ratio of 30.65. For comparison, its industry has an average Forward P/E of 29.21, which means Intuit is trading at a premium to the group.
It is also worth noting that INTU currently has a PEG ratio of 2.07. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Software was holding an average PEG ratio of 2.11 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Intuit (INTU) Gains As Market Dips: What You Should Know
Intuit (INTU - Free Report) closed the most recent trading day at $421.97, moving +0.93% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq gained 3.16%.
Coming into today, shares of the maker of TurboTax, QuickBooks and other accounting software had gained 6.33% in the past month. In that same time, the Computer and Technology sector gained 8.43%, while the S&P 500 gained 3.6%.
Intuit will be looking to display strength as it nears its next earnings release, which is expected to be February 23, 2023. The company is expected to report EPS of $1.43, down 7.74% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.9 billion, up 8.44% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.64 per share and revenue of $14.1 billion, which would represent changes of +15.11% and +10.8%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Intuit is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Intuit currently has a Forward P/E ratio of 30.65. For comparison, its industry has an average Forward P/E of 29.21, which means Intuit is trading at a premium to the group.
It is also worth noting that INTU currently has a PEG ratio of 2.07. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Software was holding an average PEG ratio of 2.11 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.