Why Intuit (INTU) Outpaced the Stock Market Today

In the latest market close, Intuit (INTU) reached $626.05, with a +1.73% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.16%. Elsewhere, the Dow saw an upswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.06%.Heading into today, shares of the maker of TurboTax, QuickBooks and other accounting software had lost 6.64% over the past month, lagging the Computer and Technology sector's loss of 0.39% and the S&P 500's loss of 2.7% in that time.Investors will be eagerly watching for the performance of Intuit in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.59, showcasing a 1.52% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $3.83 billion, reflecting a 12.99% rise from the equivalent quarter last year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $19.27 per share and a revenue of $18.27 billion, signifying shifts of +13.75% and +12.18%, respectively, from the last year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Intuit. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.12% increase. Intuit presently features a Zacks Rank of #3 (Hold).Digging into valuation, Intuit currently has a Forward P/E ratio of 32.48. This indicates a premium in contrast to its industry's Forward P/E of 30.41.One should further note that INTU currently holds a PEG ratio of 2.26. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Computer - Software industry held an average PEG ratio of 2.34.The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 142, putting it in the bottom 44% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual 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.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intuit Inc. (INTU): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks