Intuit Inc. sees a variety of stock movements, with multiple rises and falls. Investors such as Jupiter Asset Management, Tobam, QRG Capital Management, and L1 Capital International Fund have increased their holdings, whilst others like Jennison Associates have decreased. Noticeable investment increases come from M&G Plc at $22.82 million and Entropy Technologies with $1.92 million. However, institutional investors suffered a US$7.5b decrease in market cap over the previous week. Intuit intends to cut 10% of its global workforce focusing on performance and executive roles, aiming to boost growth in key areas including AI. Despite job cut announcements sending shares sinking, Intuit's earnings surpassed estimates, further, it reported strong Q3 results beating both earnings and revenue estimates. Intuit has outperformed the broader market and expects continued growth, particularly seeking to help 50 million students through their new IDEAS Program. However, Q4 guidance indicates a drop in TurboTax's free users prompting a fall in stock prices. The company maintains a bullish outlook, focusing on recurring revenue and margin expansion.
Intuit INTU News Analytics from Tue, 28 Nov 2023 08:00:00 GMT to Sun, 21 Jul 2024 16:21:17 GMT -
Rating 4
- Innovation 5
- Information 6
- Rumor -3
