Sandeep Aujla, the Executive Vice President and Chief Financial Officer of Intuit Inc. (NASDAQ:INTU), a $174.68 billion market cap software giant with impressive 79.61% gross profit margins, recently sold a portion of her holdings in the company. According to a recent SEC filing, Aujla sold 1,300 shares of Intuit common stock on January 8, 2025, at an average price of $626.42 per share. This transaction totaled approximately $814,350. InvestingPro analysis shows the stock trading near its Fair Value, with analysts setting price targets between $581 and $800. Following the sale, Aujla retains ownership of approximately 643.75 shares of Intuit stock. For deeper insights into Intuit’s valuation metrics and 15+ additional ProTips, including dividend history and financial health analysis, visit InvestingPro, where you’ll find comprehensive Pro Research Reports covering what really matters for informed investment decisions.
In other recent news, Intuit has reported significant first-quarter revenues of $3.28 billion, exceeding expectations by approximately $144 million, with earnings per share (EPS) at $2.50, which is $0.14 higher than anticipated. The impressive performance is largely attributed to a 20% increase in its Global Business Services (GBS) Online Ecosystem and a 29% surge in Credit Karma, a part of Intuit’s portfolio. Mizuho (NYSE:MFG) has reiterated its Outperform rating on Intuit, raising the price target to $750 from the previous $725, while Piper Sandler slightly adjusted the price target to $765 from the previous $768, maintaining an Overweight rating on the stock.
These recent developments follow a strategic shift in revenue from the second to the third quarter, as noted by Mizuho, due to the timing of promotions for Desktop TurboTax. As part of its strategic transformation, Intuit is focusing on simplifying financial tasks to attract new users, with CEO Sasan Gadarzi and CFO Sandeep Ojala emphasizing the transformative impact of AI and the company’s progress in serving mid-market and small business customers.
Despite a decline in desktop revenue during this period, Mizuho anticipates further growth potential for Intuit in the fiscal year 2025, driven by QuickBooks’ move upmarket and continued double-digit growth in the Consumer segment. However, Piper Sandler has noted potential external risks, including the new administration’s initiative to simplify tax filings, which could challenge Intuit’s TurboTax product. Despite these potential headwinds, both Mizuho and Piper Sandler remain confident in Intuit’s strong start to the fiscal year 2025.
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