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Intuit financial results are out

23 February 2024 By Klavs Valters

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Business software company Intuit Inc. (NASDAQ: INTU) reported Q2 of fiscal 2024 earnings results after the market closed in the US on Thursday.

The company achieved revenue that was in line with analyst estimates at $3.386 billion. Revenue increased by 11% year-over-year.

Earnings per share topped Wall Street estimates at $2.63 (up by 20% year-over-year) vs. $2.297 per share expected.

Company overview

  • Founded: 1983
  • Headquarters: Mountain View, California, United States
  • Number of employees: 18,200 (2023)
  • Industry: Enterprise software
  • Key people: Sasan Goodarzi (CEO), Scott Cook (Chairman)

CEO commentary

“We had another strong quarter as consumers and small businesses continue to rely on Intuit’s platform to power their prosperity,” Sasan Goodarzi, CEO of Intuit said in a statement to investors.

“We have great momentum innovating across our products, and we’re well on our way to becoming the trusted assistant that our customers use to fuel their financial success,” Goodarzi added.

Stock reaction

The stock was up by 3.08% on Thursday, trading at $657.92 a share.

There was no great deal of movement in after-hours trading as investors digested the latest results.

Stock performance

  • 5 day: -1.49%
  • 1 month: +2.01%
  • 3 months: +15.98%
  • Year-to-date: +4.70%
  • 1 year: +58.88%

Intuit stock price targets

  • Wells Fargo & Company: $710
  • Oppenheimer: $678
  • KeyCorp: $700
  • Susquehanna: $700
  • Citigroup: $651
  • Barclays: $660
  • Piper Sandler: $642
  • BMO Capital Markets: $640
  • Morgan Stanley: $570
  • Stifel Nicolaus: $600
  • Mizuho: $625
  • JP Morgan Chase & Co.: $470
  • HSBC: $520
  • Wolfe Research: $660
  • Argus: $640
  • Deutsche Bank: $575
  • Credit Suisse Group: $570

Intuit Inc. is the 66th largest company in the world with a market cap of $183.13 billion, according to CompaniesMarketCap.

You can trade Intuit Inc. (NASDAQ: INTU) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to “Trading” then select “Share CFDs”.

GO Markets offers pre-market and after-market trading on popular US Share CFDs.

Why trade during extended hours?

  • Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
  • Reduce your risk and hedge your existing positions ahead of a new trading day
  • Extended trading hours on popular US stocks means extended opportunities

Sources: Intuit Inc., TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.

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