How to Trade Intuit After Q4 Performance

Intuit is an American software company that specialises in financial software such as TurboTax, QuickBooks, Mint, Credit Karma and others which are used by more than 100 million people.  

Learn more about Intuit's fiscal fourth-quarter performance, the management team's forward guidance for the year and what the analysts are forecasting for the stock.

• The Invest.MT5 account allows you to buy real stocks and shares from 15 of the largest stock exchanges in the world.

All trading is high risk and you can lose more than you risk on a trade. Never invest more than you can afford to lose, as some trades will lose and some trades will win. Start small to understand your own risk tolerance levels or practice on a demo account first to build your knowledge before investing. 

Intuit Fiscal Q4 2023 Performance

Here are some of the key highlights from the latest fiscal fourth-quarter earnings report from Intuit: 

• Q4 earnings per share of $1.65 vs. $1.44 expected 
• Revenue of $2.71 billion vs. $2.41 billion same time last year 
• 12% year-on-year increase in revenue 
• FY 2024 earnings projection $16.17 to $16.47 vs. $15.96 expected 
• FY 2024 revenue projection $15.890 billion to $16.105 billion vs. $15.97 billion expected 

Intuit beat analyst expectations for both revenue and earnings per share over its last fiscal fourth quarter. This is now the fourth quarter in a row in which Intuit has surpassed Wall Street's expectations on earnings per share.  

According to CEO Sasan Goodarze, the company's plans to become the "global AI-driven expert platform" ended its last fiscal year with strong momentum. Now the question is whether or not that growth can continue.  

The full-year guidance for 2024 beat analyst expectations but investors will want to see stable trends in each of Intuits' products. There was an 11% year-on-year decline in the revenue from its Credit Karma division due to macroeconomic factors in various sectors.  

As Intuit provides a range of accounting and tax software products to businesses, the health of the economy can influence its results and, therefore, its share price. Researching the economic environment is also important as a slowdown in the economy will affect business activity which could lead to cutting back on business-related products that Intuit provides.

Intuit Stock Forecast - What do the Analysts Say?

According to analysts polled by TipRanks for an Intuit stock forecast in the past 3 months, there are currently 21 buy, 3 hold and 0 sell ratings on the stock. The highest price level for an Intuit stock forecast is $615.00 with the lowest price target at $495.00. 

The average price target for an Intuit stock forecast is $557.71.

An Example Trading Idea for the Intuit Stock Price

An example trading idea for the Intuit share price could be as follows:  

• Buy the stock on a break above the post-earnings high at $522.00 to allow for volatility. 
• Target just below the highest analyst price target of $615.00. 
• Keep your risk small at a maximum of 5% of your total account.   
• Time Line = 1 – 6 months  
• If you buy 10 Intuit shares:  
• If target is reached = $930.00 potential profit [($615.00 - $522.00) * 10 shares].   

Remember that markets go up and down and it is unlikely the share price will move up in a straight line. In fact, it may even go much further down before it rises, especially considering how sensitive financial software stocks can be to the business cycle.

Be sure to exercise good risk management and always know how much you could potentially lose on a trade and the risks involved, as well as the costs.

With the Admirals Invest.MT5 account you can buy and sell US stocks with a commission from $0.02 per share. This means buying 10 shares in Intuit stock would result in a commission of $0.20 ($0.02 * 10 shares) for executing a per-side transaction.

There is a low minimum transaction fee of $1. So, the example trading idea above would result in a commission of just $1 overall! 

How to Buy Intuit Stock in 4 Steps  

With Admirals, you can buy shares in companies like Intuit with a low commission of just $0.02 per share and a low minimum commission of just $1 on US stocks. 

1. Open an account with Admirals to access the dashboard.   
2. Click on Trade on one of your live or demo accounts to open the web platform.   
3. Search for your stock in the search window at the top right to view the live price chart. 
4. Click Create New Order from the bottom of the screen to open the trading ticket. 

Click on the banner below to trade Intuit stock today! ▼▼▼ 

Do You See the Intuit Stock Price Moving Differently?   

Remember that all analytics and trading ideas are based on the personal view and experience of the author.

If you believe there is a higher chance Intuit share price will move lower, then you can also trade short from a CFD (Contracts for Difference) trading account which Admirals also provide.

The Trade.MT5 and Trade.MT4 account allows you to speculate on the price direction of stocks and shares using CFDs.

This means you can trade long and short to potentially profit from rising and falling stock prices.

INFORMATION ABOUT ANALYTICAL MATERIALS:   

The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admirals’ investment firms operating under the Admirals trademark (hereinafter “Admirals”) Before making any investment decisions please pay close attention to the following:   

• This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.    
• Any investment decision is made by each client alone whereas Admirals shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content. 
• With a view to protecting the interests of our clients and the objectivity of the Analysis, Admirals has established relevant internal procedures for the prevention and management of conflicts of interest. 
• The Analysis is prepared by an independent analyst, Jitanchandra Solanki (analyst), (hereinafter “Author”) based on their personal estimations.    

• Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admirals does not guarantee the accuracy or completeness of any information contained within the Analysis.    
• Any kind of past or modelled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admirals for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed. 
• Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.