Intuit Inc. ($INTU) Stock Forecast: Down 6.6% Today

What is Intuit Inc.?

Intuit Inc. (NASDAQ: INTU) operates as a financial software company globally, offering popular products like TurboTax and QuickBooks. The stock experienced a decline today following recent financial results and future guidance.

Why is Intuit Inc. going down?

INTU stock is down 6.6% on Aug 23, 2024 17:42

• After reporting its fourth-quarter earnings and providing first-quarter EPS guidance lower than expected, Intuit's shares saw a decrease, prompting worries among investors about its upcoming performance.
• Despite posting strong quarterly results, analysts had differing views on the effects of investments in artificial intelligence on Intuit's profitability, influencing the stock's drop.
• While the broader market, represented by the Nasdaq Composite and S&P 500, showed positive trends, it was Intuit's internal performance factors that primarily drove its downward movement.
• Intuit's announcement of a $3 billion repurchase authorization could indicate confidence in its long-term plans; however, immediate apprehensions impacted its stock price adversely.

INTU Price Chart

INTU News

Why Intuit Shares Are Moving Lower On Friday - Intuit ( NASDAQ:INTU )

Intuit Inc. INTU shares are trading lower on Friday after the company reported fourth quarter earnings and issued 2025 fiscal year first quarter EPS guidance below estimates. The Details: Intuit reported earnings after the market closed on Thursday.

https://www.benzinga.com/news/24/08/40532548/why-intuit-shares-are-moving-lower-on-friday

Intuit Stock Falls After 'Solid' Earnings, Analysts Say AI Investments Will 'Yield Dividends' - Intuit ( NASDAQ:INTU )

Shares of Intuit Inc INTU were dipping on Friday, even after the company reported upbeat quarterly results. The company reported its results amid an exciting earnings season. Here are some key analyst takeaways. Analyst Brad Sills reiterated a Buy rating, while raising the price target from $730 ...

https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40532315/intuit-stock-falls-after-solid-earnings-analysts-say-ai-investments-will-yield-divi

Crude Oil Gains 2%; Intuit Reports Upbeat Results

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 150 points on Friday. The Dow traded up 0.63% to 40,969.43 while the NASDAQ rose 0.84% to 17,767.15. The S&P 500 also rose, gaining, 0.60% to 5,603.85. Check This Out: Jim Cramer Praises L3Harris Technologies, Says Intel Is ‘Getting Whacked’ By AMD: ‘I Much Prefer…’ Leading and Lagging Sectors Information technology shares climbed by 2.1% on Friday. In trading on Friday, consumer staples shares rose by just 0.1%. Top Headline On Thursday, Intuit Inc. (NASDAQ: INTU ) reported better-than-expected results for its fourth quarter and issued strong FY25 EPS guidance. Also, the company approved a new $3 billion repurchase authorization. Equities Trading UP Sequans Communications S.A. (NYSE: SQNS ) shares shot up 130% to $1.2602 after the company reported a year-over-year increase in preliminary second-quarter revenue results. Shares of CAVA Group, Inc. … Full story available on Benzinga.com

https://www.benzinga.com/news/earnings/24/08/40531905/crude-oil-gains-2-intuit-reports-upbeat-results

Intuit ( INTU ) Q4 Earnings Surpass Estimates, Revenues Rise Y/Y

Intuit's (INTU) fiscal fourth-quarter results reflect strength in the Online Ecosystem and Consumer Group business segments.

https://www.zacks.com/stock/news/2326351/intuit-intu-q4-earnings-surpass-estimates-revenues-rise-yy

Intuit Analysts Boost Their Forecasts After Upbeat Results - Intuit ( NASDAQ:INTU )

Intuit INTU reported better-than-expected fourth-quarter financial results and issued FY25 EPS guidance above estimates on Thursday. Also, the company approved a new $3 billion repurchase authorization. Intuit reported fourth-quarter revenue of $3.18 billion, beating the consensus estimate of ...

https://www.benzinga.com/news/earnings/24/08/40527211/intuit-analysts-boost-their-forecasts-after-upbeat-results

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Intuit Inc. Price History

23.07.2024 - INTU Stock was down 8.3%

• Despite a strong performance in the fourth quarter, Intuit's stock saw a bearish movement.
• This negative market reaction could be attributed to profit-taking following a period of upward movement post the positive results.
• The stock's bullish momentum faced a setback despite price target increases by analysts and the company's robust guidance for FY25.
• Concerns about highlighted operating losses in the earnings call transcript led to selling pressure on the stock by investors.

23.07.2024 - INTU Stock was down 6.4%

• Despite reporting better-than-expected fourth-quarter financial results and issuing strong FY25 guidance, Intuit's stock experienced a bearish movement.
• The market may have reacted negatively due to potential concerns about the company's operating losses highlighted in the earnings call transcript.
• Raised price targets and positive ratings from analysts might not have been enough to offset the impact of the operating losses on investor sentiment.
• The overall market optimism reflected in higher U.S. stock futures trading may not have been sufficient to lift Intuit's stock price amid the specific concerns raised during the earnings call.

23.07.2024 - INTU Stock was down 6.6%

• After reporting its fourth-quarter earnings and providing first-quarter EPS guidance lower than expected, Intuit's shares saw a decrease, prompting worries among investors about its upcoming performance.
• Despite posting strong quarterly results, analysts had differing views on the effects of investments in artificial intelligence on Intuit's profitability, influencing the stock's drop.
• While the broader market, represented by the Nasdaq Composite and S&P 500, showed positive trends, it was Intuit's internal performance factors that primarily drove its downward movement.
• Intuit's announcement of a $3 billion repurchase authorization could indicate confidence in its long-term plans; however, immediate apprehensions impacted its stock price adversely.

24.04.2024 - INTU Stock was down 8.7%

• INTU shares dropped around 8% despite reporting strong Q3 earnings performance, beating revenue and earnings estimates.
• The stock plunged due to the company issuing weak earnings guidance for the current quarter, overshadowing the positive results of the previous quarter.
• A decline of 1 million free users for Intuit's TurboTax this tax season impacted the stock, despite an increase in average spending per user and revenue growth.
• The market may have reacted negatively to the combination of strong past performance being overshadowed by concerns about future earnings and user base trends.

30.04.2024 - INTU Stock was down 5.2%

• The decline in INTU's stock price could be linked to a series of insider sales by key executives, including EVP and CFO Sandeep Aujla and EVP of the consumer group Mark Notarainni. This might have raised investor concerns about the company's future performance.
• The significant sale of over $855k in company stock by the EVP and CFO may have exacerbated negative sentiment among investors, pointing towards a lack of confidence from top management.
• Besides, an executive's departure from major tech companies like Intuit could have contributed to the bearish sentiment, hinting at potential internal challenges or organizational changes.
• Despite the upcoming presentation by Mark Notarainni at the Bank of America Global Technology Conference, market sentiment seems to be overshadowed by insider selling and executive exits, driving the bearish movement in INTU's stock price.

30.04.2024 - INTU Stock was down 5.2%

• The bearish movement in INTU stock could be attributed to the series of insider sales by the EVP and CFO, Sandeep Aujla, and EVP, Consumer Group, Mark Notarainni. Investor confidence may have been shaken by these significant sell-offs.
• The executives offloading a substantial amount of company stock, totaling over $855k, likely raised concerns among investors about the company's future performance or growth prospects.
• Additionally, the personal account of a former employee leaving Intuit and other big tech companies to pursue her own business might have added to the negative sentiment surrounding the stock, reflecting potential internal challenges within the company.
• Overall, the combination of insider selling activities and a narrative of departing talent could have contributed to the bearish trend in INTU stock today.

24.04.2024 - INTU Stock was down 7.8%

• Intuit Inc. (INTU) is a financial technology company known for products like TurboTax and accounting software. The overall market saw U.S. equities gaining, particularly driven by tech stocks.
• INTU stock experienced a strong bearish movement, dropping around 8%.
• Despite posting better-than-expected earnings for the third quarter and raising its full-year outlook, INTU's stock plummeted due to issuing weak earnings guidance for the current quarter.
• The warning from Intuit that it could lose about 1 million free TurboTax users this fiscal year added to the negative sentiment surrounding the stock.
• The market movement could be attributed to investors reacting negatively to the lower-than-expected earnings forecast and potential customer loss, overshadowing the company's strong performance in the previous quarter.

12.05.2024 - INTU Stock was up 5.1%

• The options market reflects a positive sentiment towards Intuit, with a notable portion of traders showing optimism.
• Despite a recent decline in stock price following lower-than-expected Q4 2024 EPS, analysts maintain a favorable outlook on INTU stock, with a majority rating it as a Buy.
• The company's presence in the Fortune 100 Best Companies to Work For list may have bolstered investor confidence and the upward movement in the market.
• Unusual options activity signaling a bullish stance from investors further reinforces the favorable trajectory of Intuit's stock price.

24.04.2024 - INTU Stock was down 9.3%

• The decline in free users for TurboTax this tax season had a negative impact on Intuit's stock performance.
• Despite the decrease in free users, the rise in average spending per user by 10% and revenue growth by 12% couldn't offset the overall bearish sentiment.
• The highly sought-after metric of average brokerage recommendation (ABR) suggesting to add Intuit to one's portfolio did not seem to influence the market movement today.
• Intuit's third-quarter results, which showed revenue exceeding projections due to increased customer preference for premium features during tax season, did not prevent the stock from trading lower.

24.05.2024 - INTU Stock was down 1.0%

• The bearish movement in INTU could be attributed to investors with significant capital taking a bearish stance on the stock, as indicated by the publicly available options history.
• Despite the positive development of the company expanding its IDEAS Program to support small businesses, the market may have reacted negatively due to broader market conditions or profit-taking by investors.
• The expansion of the IDEAS Program, while beneficial for small businesses, may not have been substantial enough to offset the bearish sentiment driven by larger market forces impacting INTU's stock price.
• It's essential to consider external factors such as overall market trends and investor sentiment when analyzing the stock movement of INTU, as they can influence the stock's performance beyond company-specific news.

12.05.2024 - INTU Stock was up 5.6%

• The release of the Fortune 100 Best Companies to Work For list, where Intuit is featured, could have boosted investor confidence in the company's performance and future prospects.
• Despite a recent tumble in stock price due to lower-than-expected Q4 2024 EPS guidance, analysts' positive ratings and the company's strong market share could have contributed to the bullish movement.
• The unusual options activity showing a bullish stance by investors might have added to the positive sentiment surrounding Intuit's stock.
• Intuit's strong brand equity, product offerings, and resilient business model could have reassured investors and attracted new buyers, leading to the bullish market movement.

02.07.2024 - INTU Stock was down 6.2%

• The bearish movement in Intuit's stock price could be attributed to profit-taking by investors after a period of growth or anticipation of less-than-expected financial results.
• Mention of Intuit's upcoming announcement of fourth-quarter and full-year fiscal 2024 results may have led to some uncertainty or caution among investors, impacting the stock price negatively.
• The overall positive outlook for software stocks in the market may have highlighted Intuit's underperformance for the day, leading to a more significant decline compared to the broader market.
• Former PayPal CEO's comments about PayPal no longer being an innovator but having a business built on strength could have indirectly influenced investor sentiment towards fintech companies like Intuit, contributing to the bearish movement.