Intuit Inc. ($INTU) Stock Forecast: Down 5.1% Today

What is Intuit Inc.?

Intuit Inc. (INTU) is a financial software company known for products like TurboTax and QuickBooks. The company operates in the Online Ecosystem and Credit Karma business segments.

Why is Intuit Inc. going down?

INTU stock is down 5.1% on Nov 22, 2024 18:41

• Intuit reported strong Q1 earnings surpassing estimates, with revenues rising year over year, reflecting strength in key business segments.
• Despite the positive earnings report, Intuit's shares tanked due to a disappointing outlook for the current quarter, leading to a bearish movement in the stock.
• Analysts noted that while the fiscal results were upbeat, the weak forecast for the upcoming quarter caused concerns among investors, contributing to the stock's decline.
• The mixed trends beneath the surface, with strong earnings but a weak forecast, likely led to the market's negative reaction towards Intuit's stock today.

INTU Price Chart

INTU Technical Analysis

INTU News

Intuit Posts Q1 Beat, Shares Tank On Disappointing Outlook: Analyst Says: 'Trends Beneath The Surface Were Mixed' - Intuit ( NASDAQ:INTU )

Intuit Inc INTU shares tanked in early trading on Friday, even after the company reported upbeat fiscal first-quarter results. The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.

https://www.benzinga.com/news/earnings/earnings-beats/24/11/42142713/intuit-posts-q1-beat-shares-tank-on-disappointing-outlook-analyst-says-trends-beneat

Intuit's Q1 Earnings Surpass Estimates, Revenues Rise Y/Y

INTU's fiscal first-quarter results reflect strength in the Online Ecosystem and Credit Karma business segments.

https://www.zacks.com/stock/news/2373902/intuits-q1-earnings-surpass-estimates-revenues-rise-yy

Intuit Issues Weak Forecast, Joins Reddit And Other Big Stocks Moving Lower In Friday's Pre-Market Session - AirSculpt Technologies ( NASDAQ:AIRS ) , Carter Bankshares ( NASDAQ:CARE )

U.S. stock futures were lower this morning, with the Dow futures falling more than 100 points on Friday's. Shares of Intuit Inc. INTU fell sharply in today's pre-market trading. Intuit reported upbeat results for its first-quarter results, but issued weak forecast for the current quarter.

https://www.benzinga.com/trading-ideas/movers/24/11/42137017/intuit-issues-weak-forecast-joins-reddit-and-other-big-stocks-moving-lower-in-fridays-pre-ma

Gap, Ross Stores And 3 Stocks To Watch Heading Into Friday - Gap ( NYSE:GAP ) , Destination XL Group ( NASDAQ:DXLG )

With U.S. stock futures trading slightly lower this morning on Friday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Destination XL Group, Inc. DXLG to report quarterly earnings at 3 cents per share on revenue of $113.46 million before the opening bell, ...

https://www.benzinga.com/24/11/42131286/gap-ross-stores-and-3-stocks-to-watch-heading-into-friday

Intuit ( INTU ) Beats Q1 Earnings and Revenue Estimates

Intuit (INTU) delivered earnings and revenue surprises of 5.93% and 4.58%, respectively, for the quarter ended October 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2373640/intuit-intu-beats-q1-earnings-and-revenue-estimates

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Intuit Inc. Price History

21.10.2024 - INTU Stock was up 5.5%

• A bearish sentiment in the options trading market may have initially caused concern among investors regarding Intuit.
• Analysts are expecting a slight decrease in earnings per share for Intuit's Q1 compared to the previous year, which could have led to cautious optimism among traders.
• The potential development of a tax-filing mobile app by the Department of Government Efficiency may have caused a slight dip in Intuit's shares earlier in the week. However, today's positive market sentiment likely overshadowed this setback.
• Wall Street projections for key metrics of Intuit's Q1 performance might have contributed to the bullish movement, providing investors with insights into the company's potential performance.

21.10.2024 - INTU Stock was up 5.1%

• Intuit is expected to release its Q1 earnings with analysts forecasting a slight decrease in earnings per share year-over-year. This anticipation of financial performance may be fueling investor optimism and contributing to the bullish movement.
• The stock initially dropped earlier in the week due to rumors about a potential mobile app by the "Department of Government Efficiency" for tax filing. Subsequent clarifications likely restored investor confidence in Intuit's market position, leading to the bullish trend.
• The options market sentiment for Intuit displays a mix of bearish and bullish outlooks, with a significant portion of investors favoring bullish trades. This suggests diverse opinions and strategies among investors impacting the stock's overall market movement.

22.10.2024 - INTU Stock was down 5.1%

• Intuit reported strong Q1 earnings surpassing estimates, with revenues rising year over year, reflecting strength in key business segments.
• Despite the positive earnings report, Intuit's shares tanked due to a disappointing outlook for the current quarter, leading to a bearish movement in the stock.
• Analysts noted that while the fiscal results were upbeat, the weak forecast for the upcoming quarter caused concerns among investors, contributing to the stock's decline.
• The mixed trends beneath the surface, with strong earnings but a weak forecast, likely led to the market's negative reaction towards Intuit's stock today.

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.

19.10.2024 - INTU Stock was down 6.1%

• The bearish movement in Intuit's stock today could be attributed to the bearish stance taken by whales in the options market, with a significant percentage of investors opening trades with bearish expectations.
• Wall Street projections for key metrics of Intuit's Q1 might have fallen short of expectations, leading to a negative sentiment among investors.
• The combination of bearish options market activity and potentially underwhelming Q1 performance projections could have contributed to the strong bearish movement in Intuit's stock today.

06.10.2024 - INTU Stock was up 5.7%

• Despite the slight dip in Intuit's stock price, the overall market showed gains, indicating a mixed performance for the company.
• The decline in Intuit's stock exceeding that of the market could be attributed to specific company-related factors or market sentiment towards the tech sector.
• Investors might be reacting to internal developments within Intuit or external factors impacting the company's growth prospects, leading to the divergence from the broader market trend.
• It is essential for investors to closely monitor any upcoming announcements or financial reports from Intuit to better understand the reasons behind the stock's movement and make informed decisions.

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.

24.05.2024 - 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.