Guggenheim Believes Intuit (NASDAQ: INTU) Won’t Stop Here

Guggenheim analyst Kenneth Wong maintained a Buy rating on Intuit (INTUResearch Report) yesterday. The company’s shares closed last Thursday at $572.88, close to its 52-week high of $582.96.

According to TipRanks.com, Wong is a 5-star analyst with an average return of 27.4% and a 69.1% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Altair Engineering, and Progress Software.

Currently, the analyst consensus on Intuit is a Strong Buy with an average price target of $626.25, representing a 9.3% upside. In a report issued on September 13, Jefferies also assigned a Buy rating to the stock with a $640.00 price target.

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Based on Intuit’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $2.56 billion and net profit of $380 million. In comparison, last year the company earned revenue of $1.82 billion and had a net profit of $445 million.

Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INTU in relation to earlier this year.

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Incorporated in 1983, California-based Intuit, Inc., a software company, provides financial management solutions and compliance products and services for small businesses, accountants, and individuals. It operates through the following segments: Small Business and Self-Employed Group; Consumer Group; ProConnect Group and Credit Karma.