Intuit Shares Drop 3.2%, Worst Nasdaq 100 Performer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 10h ago
0mins
Source: NASDAQ.COM
- Stock Decline: Intuit's shares fell 3.2% today, marking it as the worst performer in the Nasdaq 100, indicating market concerns regarding its future growth prospects.
- Poor Year-to-Date Performance: Year-to-date, Intuit has declined approximately 17.9%, highlighting the challenges the company faces in a competitive market environment, which may impact investor confidence.
- Market Dynamics: In contrast to Intuit, Atlassian's shares dropped 2.9% today, while Zscaler rose by 5.3%, reflecting varying market reactions to different tech companies, which could influence investor asset allocation strategies.
- Investor Sentiment: The ongoing decline of Intuit may prompt investors to reassess their positions in tech stocks, particularly as current economic conditions heighten focus on profitability and 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 814.59 USD with a low forecast of 700.00 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.
18 Analyst Rating
16 Buy
2 Hold
0 Sell
Strong Buy
Current: 561.770
Low
700.00
Averages
814.59
High
880.00
Current: 561.770
Low
700.00
Averages
814.59
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.
