238.05 0.00 (0.00%)
After hours: 4:34PM EDT
|Bid||237.35 x 900|
|Ask||245.21 x 1800|
|Day's Range||233.23 - 240.44|
|52 Week Range||187.68 - 306.89|
|Beta (5Y Monthly)||0.96|
|PE Ratio (TTM)||38.52|
|Earnings Date||May 20, 2020 - May 24, 2020|
|Forward Dividend & Yield||2.12 (0.92%)|
|Ex-Dividend Date||Apr 08, 2020|
|1y Target Est||285.00|
With its four-step initiatives, Intuit (INTU) aims to mitigate the challenges faced by consumers and enterprises due to disruptions related to the pandemic.
Intuit shows rising price performance, earning an upgrade to its IBD Relative Strength Rating from 66 to 81.
Here's a look at the impact of COVID-19 on alternative ways to go public, along with job cuts and startup initiatives connected to the pandemic and other Bay Area venture news at midweek.
Intuit outlined four steps it is taking to help small businesses and other customers who are dealing with economic disruption from the coronavirus outbreak.
Today, GoFundMe, the world’s largest social fundraising platform, and Intuit QuickBooks, the world’s largest small business network, co-founded an initiative to help small businesses raise money to overcome the challenges caused by COVID-19. The Small Business Relief Initiative is designed to get money in the hands of small businesses struggling to pay employees and business expenses due to COVID-19.
The three companies are matching the first $500 in donations made to each small business COVID-19 relief campaigns on GoFundMe.
Despite the market's sharp decline, Clorox (CLX) and Dollar General (DG) recently hit all-time highs, observes Christian DeHaemer, growth stock expert and editor of Energy & Capital.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Intuit Inc. (NASDAQ: INTU) enjoys a leading market position in two sizeable segments, namely tax and small business, and has maintained double-digit organic revenue and operating margins above 30%. These strengths significantly outweigh near-term concerns, according to Wells Fargo.The Intuit Analyst Michael Turrin upgraded Intuit from Equal-Weight to Overweight, while raising the price target from $305 to $320.The Intuit Thesis Despite rising market uncertainty, Intuit is "among the most well-positioned in our coverage" to weather the current macro scenario, Turrin said .He iterated four key reasons for the upgrade: 1. Certainty of taxes: The relative certainty brought by the option to file US taxes yourself is more favorable for Intuit in the first half of the year than for other end-markets in software. 2. U.S.-centric business exposure: International constitutes only around ~5% of Intuit's overall revenue and the company has plenty of room for expansion in the U.S., which represents a market of over $150 billion. 3. Inbound model and virtual expertise: While Intuit's software and cloud-enabled products allow customers to transact online, the recent addition of expert-enabled virtual offerings "also helps smartly connect business and individuals with a trusted network of remotely-based experts," Turrin wrote in the note. 4. Valuation: Intuit has outperformed its annual earnings guidance by an average of 6% over the past five years. Continuing the trend this year would support better relative valuation for the company's shares, the analyst said.INTU Price Action Shares of Intuit declined almost 3.76% to $259.52 at time of publication Wednesday.Latest Ratings for INTU DateFirmActionFromTo Mar 2020Wells FargoUpgradesEqual-WeightOverweight Feb 2020BarclaysMaintainsEqual-Weight Feb 2020JP MorganMaintainsUnderweight View More Analyst Ratings for INTU View the Latest Analyst Ratings See more from Benzinga * Argus Downgrades Airlines Stocks On Deteriorating Outlook * Wedbush Analyzes Microsoft Amid Coronavirus Uncertainties * SunTrust Cuts Booking Holdings Price Target On Worsening Travel Trends(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Just weeks after agreeing to buy Credit Karma, Intuit, a software company best known for its Quicken and TurboTax products, has its eye on Finicity, a small software intermediary.
Shares in Intu Properties crashed more than 35% on Wednesday, after the owner of some of Britain’s biggest shopping centers scrapped an emergency fundraising saying “extreme market conditions” had left it unable to raise its minimum target of £1.3 billion from nervous investors. London-listed Intu (UK:INTU) which owns Manchester’s Trafford Centre, had been planning to raise equity of between £1 billion and £1.5 billion by the end of February, to shore up its balance sheet after being hit hard by the collapse of several high street retailers in the past year. “The board believes the current uncertainty in the equity markets and retail property investment markets precluded a number of potential investors from committing capital into the business and Intu was therefore unable to reach the target quantum at the current time,” the company said in a statement to the London Stock Exchange.
The Principal Blue Chip fund seeks companies whose executives focus on the long term, rather than on short-term gains
(Bloomberg) -- TurboTax has long been the leader in do-it-yourself tax-filing software. But it has faced increasing competition from a nimble startup, Credit Karma Inc., which has become one of the preferred financial apps for young people by giving out free credit scores and helping them find auto loans and credit cards. And since 2017, it has offered a completely free tax-filing service. Intuit Inc., the parent company of TurboTax, took note and agreed to spend $7.1 billion to buy Credit Karma last week. Several legal experts say the deal raises serious antitrust concerns, and see parallels to a 2011 attempt by H&R Block Inc. to acquire another DIY tax software company that regulators blocked.The prospect for tech deals may be even weaker now, amid calls for greater federal scrutiny. Increasingly, legal experts are flagging concerns about the harms posed by large companies buying smaller ones before they develop into serious threats.Intuit is the biggest provider of DIY tax filing software in the U.S., splitting about 80% of the market with H&R Block, according to Bloomberg Intelligence analyst Julie Chariell. Credit Karma’s market share is only 3%, but it’s growing fast. Founded in 2007, the San Francisco-based company has attracted more than 100 million users, including about half of all U.S. millennials. That’s twice as many as Intuit. Credit Karma’s free tax-preparing business grew by about 50% last year, according to the company.“There's no question the acquisition could and should face scrutiny,” said Aaron Edlin, a law and economics professor at the University of California at Berkeley. “There's a huge concern when the leading firm in an industry such as tax software buys another firm that is competitive, particularly that's offering free tax software.”Eleanor Fox, a law professor at New York University, said regulators wouldn’t just be looking at the companies’ size, but could also be concerned about whether the deal is “cornering a market.”Intuit has told investors the Credit Karma deal should be finalized by the second half of the year, a sign that it’s optimistic it can pass an antitrust review. The company argues that taxes are only one part of Credit Karma’s offerings, which mostly revolve around selling financial products based on the data it collects from free services, including tax filings. Intuit says the deal isn’t about stifling competition and that the two companies would operate separately. When asked on a conference call about market consolidation, Chief Executive Officer Sasan Goodarzi said, “This is all about playing offense and delivering for customers.”Representatives for the Justice Department, Intuit and Credit Karma declined to comment.In Intuit’s latest annual financial report, it lists Credit Karma as a primary U.S. competitor. Some customers certainly see it that way. One person complained on Twitter about TurboTax’s charges. “My kids make like 2k last year but because she made 401k contributions she has to pay $80 to get a $200 refund. No thanks, @creditkarma to the rescue.”Matt Stoller, the director of research at the American Economic Liberties Project, called it “embarrassing” that Intuit even proposed the merger. “These kinds of mergers are obviously illegal and enforcers just don't uphold the law,” he said.In 2011, a court sided with the Justice Department and prevented H&R Block, the second largest player in digital do-it-yourself tax preparation software, from buying its third-place rival, the creator the software “TaxAct.” In that case, Judge Beryl Howell ruled that the proposed merger would give H&R Block and Intuit a combined 90% control over the tax market.Barak Orbach, a law professor at the University of Arizona, said he believes the Credit Karma acquisition will be approved since it could help create competition with the tech giants, who are moving further into financial products. And, despite the tough stance taken by regulators against big tech companies, T-Mobile US Inc. recently won approval for its $26.5 billion takeover of Sprint Corp. after a state-led lawsuit that sought to block the deal. Even before the Credit Karma acquisition, the government was scrutinizing Intuit’s actions. The company is facing lawsuits and regulatory inquiries into its approach to the Internal Revenue Service’s Free File tax program. That federal program -- not to be confused with software that’s advertised as free -- is meant to provide low-income people truly free tax software. ProPublica has reported that Intuit hid its federal free file program in search results and redirected people to its commercial service. Intuit subsequently agreed to stop the practice.The antitrust review of Credit Karma will likely hinge on a few points, said James Tierney, who supervised the case against H&R Block at the Justice Department: "Is this company restraining Intuit's pricing? If you got rid of Credit Karma, could Intuit raise prices? That's one question and the other question might be, is Credit Karma driving innovation in the market?"Tierney, now an attorney at Orrick, said the Justice Department was unlikely to take Intuit by its word that Credit Karma would operate independently. "The fact of the matter is that Intuit will control Credit Karma and they have the ability to do whatever they want with it," he said. (Updates with comments from law professor in sixth paragraph. A previous version of the story corrected the formal name of the Internal Revenue Service in third paragraph from the end.)\--With assistance from Julie Verhage.To contact the author of this story: Eric Newcomer in New York at email@example.comTo contact the editor responsible for this story: Molly Schuetz at firstname.lastname@example.org, Joshua BrusteinFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Sasan Goodarzi, chief executive officer of Intuit (Nasdaq: INTU), will present at the Morgan Stanley Technology Conference in San Francisco on March 3.
Midas investor Frank Rotman of QED Investors says it was easy to see why Credit Karma was going to be big when he invested in its Series A round back in 2009. Here's a look at that and the returns he and other investors won in Intuit's $7 billion acquisition.
The Mountain View software giant is set to own around 2,600 data points on each of Credit Karma's 100 million users. How will it use that data?
Last week, you might have seen that Intuit Inc. (NASDAQ:INTU) released its second-quarter result to the market. The...