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Intuit (INTU) ended the recent trading session at $630.23, demonstrating a +1.19% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 1.26%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.77%.
Shares of the maker of TurboTax, QuickBooks and other accounting software witnessed a loss of 3.99% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 0.84% and the S&P 500's loss of 2.82%.
The investment community will be closely monitoring the performance of Intuit in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $2.59, reflecting a 1.52% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.83 billion, indicating a 12.99% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $19.27 per share and revenue of $18.27 billion, indicating changes of +13.75% and +12.18%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Intuit should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.12% increase. Intuit is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Intuit is at present trading with a Forward P/E ratio of 32.31. This valuation marks a premium compared to its industry's average Forward P/E of 29.42.
Also, we should mention that INTU has a PEG ratio of 2.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Computer - Software industry held an average PEG ratio of 2.26.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.