Intuit (INTU) Shares Hit Worst Drop Since August 2024, Retail Investors Bullish on Rebound
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: stocktwits
- Significant Stock Drop: Intuit's shares fell 6.4% on Wednesday, marking the largest decline since August 2024, with a cumulative drop of about 13.2% over four consecutive sessions, now at a nine-month low, reflecting market concerns about its short-term performance.
- Investor Sentiment Shift: Despite the drop, the Stocktwits sentiment index has risen to 93/100, indicating retail investors have turned ‘extremely bullish’ on the current price, viewing it as a buying opportunity that may attract more capital inflow.
- Surge in Trading Volume: On Wednesday, approximately 4.8 million shares of Intuit changed hands, nearly three times its average daily trading volume, indicating a significant increase in investor interest that could set the stage for a future rebound.
- Analyst Ratings Optimistic: According to Koyfin, 25 out of 35 analysts rate Intuit as ‘Buy’ or higher, with an average price target of $793.05, implying a 40% upside from its last close, demonstrating confidence in the company's long-term growth potential.
Analyst Views on INTU
Wall Street analysts forecast INTU stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for INTU is 831.40 USD with a low forecast of 725.00 USD and a high forecast of 880.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
16 Buy
1 Hold
0 Sell
Strong Buy
Current: 605.280
Low
725.00
Averages
831.40
High
880.00
Current: 605.280
Low
725.00
Averages
831.40
High
880.00
About INTU
Intuit Inc. offers a financial technology platform that helps consumers and small and mid-market businesses prosper by delivering financial management, compliance, and marketing products and services. It also provides specialized tax products to accounting professionals. Its offerings include TurboTax, Credit Karma, QuickBooks, and Mailchimp. Lacerte, ProSeries, and ProConnect Tax Online. Its Global Business Solutions segment serves small and mid-market businesses around the world, and the accounting professionals who assist and advise them. Its Consumer segment serves consumers and includes do-it-yourself and assisted TurboTax income tax preparation products and services sold in the United States and Canada. Its Credit Karma segment serves consumers with a personal finance platform that provides personalized recommendations for credit card, home, auto, and personal loan, and insurance products. Its ProTax segment serves professional accountants in the United States and Canada.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
