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Intuit Inc. (INTU), headquartered in Mountain View, California, is a global financial technology platform that provides financial management and compliance products and services for consumers, small businesses, and accounting professionals worldwide. Valued at $158.57 billion by market cap, the company serves approximately 100 million customers worldwide with products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp.
Companies worth $10 billion or more are generally described as “large-cap stocks,” and INTU fits right into that category, signifying its substantial size, stability, and dominance in its industry. The company has 19 offices in eight countries.
The financial software giant has fallen 16.2% from its 52-week high of $676.62, which it hit on May 23. Shares of INTU are down 13% over the past three months, underperforming the Dow Jones Industrials Average’s ($DOWI) marginal gains over the same time frame.
In the longer term, INTU shares rose 31.4% over the past year, but in 2024, the stock is down 9.3%. By contrast, DOWI is up 3.1% on a YTD basis and 14.7% over the past 52 weeks.
To confirm the recent bearish price trend, INTU has been trading below its 50-day and 200-day moving averages since late May.
On May 24, INTU shares closed down more than 8% after the company forecasted Q4 adjusted EPS between $1.80 and $1.85, below the consensus estimate of $1.93.
Highlighting the contrast in performance, rival Salesforce, Inc. (CRM) has gained 12.3% in the past 52 weeks but is down 8.1% on a YTD basis.
Despite its recent underperformance compared to DOWI, analysts are optimistic about INTU’s prospects. The stock has a consensus rating of “Strong Buy” from the 27 analysts covering it, and the mean price target of $698.75 is a 23.2% premium to current levels.
On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
