Intuit (INTU) closed at $478.77 in the latest trading session, marking a +0.14% move from the prior day. This move outpaced the S&P 500's daily loss of 0.07%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had gained 24.73% over the past month, outpacing the Computer and Technology sector's gain of 8.42% and the S&P 500's gain of 8.06% in that time.
Investors will be hoping for strength from Intuit as it approaches its next earnings release, which is expected to be August 23, 2022. The company is expected to report EPS of $0.99, down 49.75% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.35 billion, down 8.1% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Intuit. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Intuit is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Intuit's current valuation metrics, including its Forward P/E ratio of 35.05. This represents a premium compared to its industry's average Forward P/E of 28.51.
Also, we should mention that INTU has a PEG ratio of 2.25. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Software was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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