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Intuit (INTU) Falls More Steeply Than Broader Market: What Investors Need to Know
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The most recent trading session ended with Intuit (INTU - Free Report) standing at $637.82, reflecting a -1.47% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.37% loss on the day. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 2.3%.
The maker of TurboTax, QuickBooks and other accounting software's shares have seen a decrease of 1.9% over the last month, surpassing the Computer and Technology sector's loss of 2.84% and falling behind the S&P 500's gain of 1.11%.
The investment community will be closely monitoring the performance of Intuit in its forthcoming earnings report. The company is scheduled to release its earnings on August 22, 2024. The company's upcoming EPS is projected at $9.38, signifying a 468.48% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $3.08 billion, indicating a 13.73% growth compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Intuit. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Intuit is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Intuit is presently being traded at a Forward P/E ratio of 38.47. This valuation marks a premium compared to its industry's average Forward P/E of 30.52.
Investors should also note that INTU has a PEG ratio of 2.58 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Software stocks are, on average, holding a PEG ratio of 2.47 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Falls More Steeply Than Broader Market: What Investors Need to Know
The most recent trading session ended with Intuit (INTU - Free Report) standing at $637.82, reflecting a -1.47% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.37% loss on the day. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 2.3%.
The maker of TurboTax, QuickBooks and other accounting software's shares have seen a decrease of 1.9% over the last month, surpassing the Computer and Technology sector's loss of 2.84% and falling behind the S&P 500's gain of 1.11%.
The investment community will be closely monitoring the performance of Intuit in its forthcoming earnings report. The company is scheduled to release its earnings on August 22, 2024. The company's upcoming EPS is projected at $9.38, signifying a 468.48% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $3.08 billion, indicating a 13.73% growth compared to the corresponding quarter of the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Intuit. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Intuit is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Intuit is presently being traded at a Forward P/E ratio of 38.47. This valuation marks a premium compared to its industry's average Forward P/E of 30.52.
Investors should also note that INTU has a PEG ratio of 2.58 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Software stocks are, on average, holding a PEG ratio of 2.47 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.