What's Going On With Intuit Shares Wednesday?
Portfolio Pulse from Adam Eckert
Intuit Inc (NASDAQ:INTU) shares are trading lower after reporting worse-than-expected Q3 revenue of $6.02 billion, missing estimates of $6.1 billion. Several analysts adjusted price targets following the results. The company raised its guidance for the fiscal year, and expects Q4 revenue to be up 9-10% YoY.
May 24, 2023 | 3:21 pm
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NEGATIVE IMPACT
Intuit shares are trading lower after missing Q3 revenue estimates. Analysts have adjusted price targets, and the company has raised its guidance for the fiscal year.
Intuit's stock price is likely to be negatively impacted in the short term due to the worse-than-expected Q3 revenue results. The missed estimates have led to analysts adjusting their price targets, which can influence investor sentiment. However, the company has raised its guidance for the fiscal year, which may mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100