These Analysts Revise Price Targets On Intuit Following Q3 Results

Intuit Inc. INTU reported better-than-expected earnings for its third quarter, while sales missed estimates.

Intuit posted quarterly earnings of $8.92 per share, beating analysts’ estimates of $8.48 per share. The company’s quarterly sales came in at $6.02 billion, versus expectations of $6.10 billion.

Intuit sees fourth-quarter revenue up 9% to 10% year-over-year. Earnings are expected to be between $1.43 and $1.48 per share versus estimates of $1.51 per share. The company expects full-year 2023 revenue of $14.279 billion to $14.317 billion versus estimates of $14.18 billion. Full-year earnings are expected to be in the range of $14.20 to $14.25 per share versus estimates of $13.83 per share.

Intuit shares fell 5.2% to $426.26 in today’s pre-market trading session.

These analysts made changes to their price targets on Intuit following earnings announcement.

• B of A Securities raised the price target on Intuit from $485 to $500. B of A Securities analyst Brad Sills maintained a Buy rating.
• Morgan Stanley boosted the price target on Intuit from $520 to $525. Morgan Stanley analyst Keith Weiss maintained an Overweight rating.
• Citigroup raised Intuit price target from $475 to $495. Citigroup analyst Steven Enders maintained a Buy rating.
• Piper Sandler slashed Intuit price target from $510 to $497. Piper Sandler analyst Arvind Ramnani maintained an Overweight rating.

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