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Intuit (INTU) Stock Dips While Market Gains: Key Facts

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Intuit (INTU - Free Report) closed at $636.74 in the latest trading session, marking a -1.41% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.38%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 0.03%.

The maker of TurboTax, QuickBooks and other accounting software's shares have seen a decrease of 3.05% over the last month, surpassing the Computer and Technology sector's loss of 7.5% and the S&P 500's loss of 3.2%.

Analysts and investors alike will be keeping a close eye on the performance of Intuit in its upcoming earnings disclosure. The company's earnings report is set to go public on August 22, 2024. The company is predicted to post an EPS of $1.86, indicating a 12.73% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.08 billion, up 13.73% from the prior-year quarter.

Any recent changes to analyst estimates for Intuit should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Intuit currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Intuit has a Forward P/E ratio of 33.88 right now. This valuation marks a premium compared to its industry's average Forward P/E of 30.16.

Investors should also note that INTU has a PEG ratio of 2.27 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Software was holding an average PEG ratio of 2.28 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 145, putting it in the bottom 43% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.


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