Intuit (INTU) Stock Drops Despite Market Gains: Important Facts to Note

Intuit (INTU) closed the most recent trading day at $682.91, moving -1.7% from the previous trading session. This move lagged the S&P 500's daily gain of 0.41%. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 0.31%. The maker of TurboTax, QuickBooks and other accounting software's stock has climbed by 4.15% in the past month, falling short of the Computer and Technology sector's gain of 7.63% and outpacing the S&P 500's gain of 3.15%.The upcoming earnings release of Intuit will be of great interest to investors. The company is expected to report EPS of $3.1, up 24% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $3.76 billion, showing a 14.55% escalation compared to the year-ago quarter. For the full year, the Zacks Consensus Estimates are projecting earnings of $23.08 per share and revenue of $21.07 billion, which would represent changes of +14.54% and +11.9%, respectively, from the prior year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Intuit. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Intuit is currently a Zacks Rank #3 (Hold). Valuation is also important, so investors should note that Intuit has a Forward P/E ratio of 30.09 right now. This expresses a premium compared to the average Forward P/E of 29.82 of its industry. It is also worth noting that INTU currently has a PEG ratio of 2. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Computer - Software industry held an average PEG ratio of 2.12. The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 153, positioning it in the bottom 39% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Zacks.com. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intuit Inc. (INTU): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks