Goldman Sachs Maintains a 'Neutral' on Intuit (INTU); SMB Takes Over

August 22, 2012 8:48 AM EDT
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Price: $118.75 +1.41%

Rating Summary:
    9 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Goldman Sachs maintains a 'Neutral' on Intuit (NASDAQ: INTU) price target of $64.00 (from $60.00).

Analyst, Greg Dunham, said, "While headline numbers missed, Intuit actually beat our estimate by 2% as we had not adjusted our numbers for the pending divestiture of the websites business (about $18m in the quarter). In addition, INTU would have earned $0.06 if not for a $15mn restructuring charge. We are lowering our FY13/FY14/FY15 non-GAAP EPS estimates to $3.35/$3.74/$4.15 from $3.41/$3.80/$4.23 based on revised revenue and margin assumptions."

For an analyst ratings summary and ratings history on Intuit click here. For more ratings news on Intuit click here.

Shares of Intuit closed at $58.95 yesterday.

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