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In the latest trading session, Intuit (INTU) closed at $466.30, marking a +0.12% move from the previous day. This move outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had gained 15.03% over the past month, outpacing the Computer and Technology sector's gain of 12.38% and the S&P 500's gain of 8.78% in that time.
Intuit will be looking to display strength as it nears 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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Intuit is currently a Zacks Rank #2 (Buy).
Digging into valuation, Intuit currently has a Forward P/E ratio of 34.15. This valuation marks a premium compared to its industry's average Forward P/E of 30.37.
Meanwhile, INTU's PEG ratio is currently 2.19. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Software industry currently had an average PEG ratio of 2.19 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 35% 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.
To follow INTU in the coming trading sessions, be sure to utilize Zacks.com.
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