Intuit had its Relative Strength (RS) Rating upgraded from 70 to 76 Wednesday — a welcome improvement that puts it just a few points below the 80 Ideal that CAN SLIM investors look for when hunting for the best stocks to buy and watch. Intuit stock fell Wednesday in sync with the market.
Among its other key ratings, Intuit stock boasts a 96 Composite Rating, putting it in the top 4% of stocks for a group of key technical and fundamental metrics. It carries a 95 Earnings Per Share Rating out of 99. And its B- Accumulation/Distribution Rating on an A+ to E scale shows that institutional investors are moderately heavy buyers of its stock.
Intuit Stock Nears CAN SLIM Benchmark
Decades of market research reveals that the market's biggest winners tend to have an RS Rating above 80 as they launch their largest price moves. See if Intuit can continue to show renewed price strength and hit that benchmark.
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Intuit stock is building a consolidation with a 490.93 buy point. See if it can break out in heavy trading. It rose from a 352.63 low on Nov. 4 to a 457.94 high on Feb. 2 and then consolidated.
On Wednesday Intuit stock rose more than 1% early then reversed along with the market in the afternoon to close down 1.8% at 414.21. Fed chair Jerome Powell's remarks indicated that more belt-tightening is ahead, cooling the market.
Profits Popped More Than 40%
Earnings growth increased last quarter from 8% to 42%, to $2.20 per share. Sales grew 14% to $3.04 billion.
Intuit stock holds the No. 3 rank among its peers in the Computer Software-Financial industry group. Vertex and Fair Isaac are also among the group's highest-rated stocks.
IBD's unique RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
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