Intuit Analysts Raise Their Forecasts After Earnings Beat
Portfolio Pulse from Lisa Levin
Intuit Inc (NASDAQ:INTU) reported fiscal first quarter earnings that surpassed expectations, with a 15% year-over-year revenue increase to $2.978 billion, beating the consensus estimate of $2.878 billion. Adjusted earnings were $2.47 per share, exceeding the forecast of $1.98 per share. The company confirmed its full-year 2024 revenue guidance of $15.89 billion to $16.105 billion and adjusted earnings of $16.17 to $16.47 per share. Following the earnings beat, Barclays, Wells Fargo, and Citigroup raised their price targets for Intuit, while maintaining positive ratings. Intuit's stock rose 0.6% to $568.65 in pre-market trading.
November 29, 2023 | 12:44 pm
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Intuit Inc reported strong Q1 earnings, beating revenue and EPS estimates, and confirmed its full-year guidance. Analysts from Barclays, Wells Fargo, and Citigroup raised their price targets for Intuit, indicating confidence in the company's performance.
The positive earnings report and the subsequent increase in price targets by reputable analysts suggest a bullish outlook for Intuit in the short term. The confirmation of full-year guidance adds to investor confidence, likely resulting in a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100