New Buy Rating for Intuit (INTU), the Technology Giant
J.P. Morgan analyst Mark Murphy maintained a Buy rating on Intuit today and set a price target of $605.00.
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According to TipRanks, Murphy is a 4-star analyst with an average return of 6.8% and a 53.48% success rate. Murphy covers the Technology sector, focusing on stocks such as ServiceNow, Adobe, and Dynatrace.
In addition to J.P. Morgan, Intuit also received a Buy from Bank of America Securities’s Tal Liani in a report issued on May 27. However, on May 22, Wells Fargo maintained a Hold rating on Intuit (NASDAQ: INTU).
Based on Intuit’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $8.56 billion and a net profit of $3.06 billion. In comparison, last year the company earned a revenue of $7.75 billion and had a net profit of $2.82 billion
Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of INTU in relation to earlier this year. Earlier this month, Vasant Prabhu, a Director at INTU bought 1,750.00 shares for a total of $541,655.00.
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