Intuit’s (INTU) market share drops more than other markets: What you should know

Intuit closed the most recent trading session at $442.51. This is a change of -0.32% compared to the previous day. This change lagged the S&P 500’s 0.04% loss on the day. Other than that, the Dow dropped 0.14% and the Nasdaq gained 2.14%.

Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 0.42% over the past month, lagging the Computer and Technology sector’s gain of 4.01% and the S&P 500’s gain of 5.1% in that time.

Intuit is looking to show strength as it approaches its next earnings report, which is expected on May 23, 2023. Analysts predict that Intuit will post earnings of $8.45 a share. This would be a 10.46% increase from last year. Zacks Consensus estimates revenue at $6.09 billion. This is up 8.15 percent from the previous year.

Our Zacks Consensus estimates for the full year project earnings of $13.72 a share and revenues of $14.15 Billion, representing changes of +5.78% and +11.15 respectively from the previous year.

Analyst estimates for Intuit may have also changed recently. These revisions are usually based on the most recent short-term trends in business, which can be changing frequently. Positive estimate revisions are a sign of a positive business outlook.

Our research suggests that these revisions to estimates are directly linked with near-team stocks. We have created the Zacks Rank – a proprietary rating system that takes into account these changes in estimate and gives a useful rating.

The Zacks Rank ranges from 1 (Strong Sell) to 5 (Strong Buy). The Zacks Rank system has an impressive track record, as it is independently audited. Since 1988, #1 stocks have delivered an average annual return +25%. In the past month the Zacks Consensus EPS estimates have moved 0.12% upwards. Intuit has a Zacks Rank #4 (Sell) at the moment.

Investors are also advised to take note of Intuit’s current valuation metrics. This includes its Forward P/E Ratio of 32.36. In comparison, the Forward P/E for its industry is an average of 27.47. Intuit, therefore, trades at a premium.

Investors are also advised to note that INTU currently has a PEG of 2.18. PEG is similar to P/E, but it also considers the expected growth rate of earnings. Based on yesterday’s close, computer – software stocks have an average PEG of 2.15.

Computer and Technology is the sector that includes the Computer and software industry. This industry is currently ranked 114 by Zacks Industry Rank, placing it among the top 46% in all 250+ sectors.

The Zacks Industry Rank gauges our individual industry groups’ strength by evaluating the average Zacks Ranks of individual stocks within each group. The top 50% of the ranked industries have outperformed the bottom half on average by 2 to 1.

Zacks.com can be used to track INTU’s trading in the future.

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