Oppenheimer Remains Bullish on Intuit (INTU) Following 4Q Report
- Global stocks sag as bond 'bloodbath' shows no sign of letting up
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Oppenheimer reiterated an Outperform rating and $113.00 price target on Intuit (NASDAQ: INTU) following the company's 4Q earnings report. INTU reported EPS of $0.08, ahead of the Street's estimates for a loss of ($0.02). Although F1Q17 was guided below our/Street estimates, this was largely attributed to timing/seasonality.
Analyst Scott Schneeberger commented, "Intuit's F4Q16 adjusted EPS of +$0.08 (vs. -$0.05 in F4Q15) exceeded our estimate/ consensus of -$0.04/-$0.02, respectively, with contribution relatively balanced across segments. FY16 adj'd EPS of $3.78 (+46% y/y) was above our estimate/consensus of $3.64/$3.67, respectively. Consumer Tax was the strength of FY16 overall, considerably exceeding TurboTax unit and revenue growth expectations, while Small Business also performed well. FY16 QuickBooks Online subscribers grew 41% y/y and the Small Business Online Ecosystem grew revenue 25% y/y contributing to 9% y/y Small Business segment revenue growth."
Shares of Intuit closed at $113.84 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Raises Price Target as Cheesecake Factory (CAKE) Posts 3Q Beat
- PAREXEL (PRXL) PT, Estimates Lowered at Evercore ISI
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!