Software giant Intuit (INTU) announced an expansion of its QuickBooks Business Network's availability and also unveiled QuickBooks Money to bolster its product portfolio. The company's recent earnings reports have consistently surpassed estimates, contributing to a 0.6% trading increment followed by a 9% uptick since its last earnings announcement. Despite a downgrade from StockNews.com, analysts and brokerages granted Intuit a consensus rating of 'Moderate Buy'.
Several investment firms expanded their positions in Intuit, including Heritage Investors Management Corp, Apollon Wealth Management LLC, and Metis Global Partners LLC. However, Merit Financial Group LLC and L1 Capital International Fund both reduced their stakes, citing share appreciation.
Institutional shareholders who represent 86% of Intuit holdings remain favorable on the company. Reports highlight the company's strong earnings, high recurring revenue, and robust margin expansion. Despite these positive aspects, the company's Q3 guidance disappointed many, causing a drop in the stock, although its full-year outlook retains.
Intuit INTU News Analytics from Thu, 24 Aug 2023 07:00:00 GMT to Thu, 09 May 2024 18:58:20 GMT - Rating 7 - Innovation 5 - Information 7 - Rumor -6
