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In a recent transaction, Burton Eve B, a director at Intuit Inc. (NASDAQ:INTU), sold 1,702 shares of the company’s common stock. The shares were sold at a price of $600 each, amounting to a total transaction value of approximately $1.02 million. The software giant, currently valued at $168.75 billion, maintains a "GREAT" financial health score according to InvestingPro analysis. Following this sale, Burton Eve B retains ownership of 8,427 shares in the company. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission. Trading at high earnings and revenue multiples, Intuit shows impressive gross profit margins of nearly 80%. Want deeper insights into insider trading patterns and 15+ additional ProTips? Check out the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Intuit Inc. has reported robust earnings that exceeded expectations, particularly in its Consumer Group, which outperformed forecasts despite a slow start to the tax season. This was complemented by a strong performance in its Online Ecosystem, which saw a 21% revenue growth, and Online Services revenue, which expanded by 19%. Analysts from Mizuho (NYSE:MFG) and KeyBanc have maintained their positive outlooks on Intuit, with Mizuho raising its price target to $765 and KeyBanc maintaining a $770 target, citing confidence in the company’s strategic initiatives and growth potential. Scotiabank (TSX:BNS), however, adjusted its price target down to $600, despite acknowledging Intuit’s impressive earnings and operational efficiencies driven by artificial intelligence investments.
Stifel analysts reiterated a Buy rating with a $725 target, highlighting a 30% increase in online services revenue from Payments/Payroll and a strong start to the tax season. The firm’s analysis also points to Credit Karma’s solid performance and effective expense management, contributing to a positive outlook for Intuit. The company has not updated its guidance, consistent with its historical practice, but analysts remain optimistic about its potential for durable growth. These developments reflect a mixed but generally positive sentiment among analysts regarding Intuit’s performance and future prospects.
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