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Intuit Inc. ($INTU) Stock Forecast: Down 1.0% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is Intuit Inc.?

INTU is a stock of a company that provides financial, accounting, and tax preparation software for small businesses and individuals. The overall market sentiment for INTU today was bearish.

Why is Intuit Inc. going down?

INTU stock is down 1.0% on Jun 24, 2024 14:56

  • The bearish movement in INTU could be attributed to investors with significant capital taking a bearish stance on the stock, as indicated by the publicly available options history.
  • Despite the positive development of the company expanding its IDEAS Program to support small businesses, the market may have reacted negatively due to broader market conditions or profit-taking by investors.
  • The expansion of the IDEAS Program, while beneficial for small businesses, may not have been substantial enough to offset the bearish sentiment driven by larger market forces impacting INTU's stock price.
  • It's essential to consider external factors such as overall market trends and investor sentiment when analyzing the stock movement of INTU, as they can influence the stock's performance beyond company-specific news.

INTU Price Chart

INTU News

Intuit Expands IDEAS Program to Help Small Businesses

Intuit ( NASDAQ:INTU ) has announced the expansion of its Invest, Develop, Empower, Accelerate and Scale ( IDEAS ) Program in partnership with the Los Angeles Urban League. Originally launched as a pilot in Los Angeles, the program will now support 100 small business owners.

https://markets.businessinsider.com/news/stocks/intuit-expands-ideas-program-to-help-small-businesses-1033497157

News Article Image Intuit Expands IDEAS Program to Help Small Businesses

Intuit Expands IDEAS Program to Help Small Businesses - Bank of America ( OTC:BACRP ) , Automatic Data Processing ( NASDAQ:ADP )

Intuit INTU has announced the expansion of its Invest, Develop, Empower, Accelerate and Scale ( IDEAS ) Program in partnership with the Los Angeles Urban League. Originally launched as a pilot in Los Angeles, the program will now support 100 small business owners.

https://www.benzinga.com/news/earnings/24/06/39433808/intuit-expands-ideas-program-to-help-small-businesses

News Article Image Intuit Expands IDEAS Program to Help Small Businesses - Bank of America  ( OTC:BACRP ) , Automatic Data Processing  ( NASDAQ:ADP )

Check Out What Whales Are Doing With INTU - Intuit ( NASDAQ:INTU )

Investors with a lot of money to spend have taken a bearish stance on Intuit INTU. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/06/39438316/check-out-what-whales-are-doing-with-intu

News Article Image Check Out What Whales Are Doing With INTU - Intuit  ( NASDAQ:INTU )

Intuit ( INTU ) Expands IDEAS Program to Help Small Businesses

Intuit (INTU) broadens its IDEAS Program in collaboration with the Los Angeles Urban League to help small businesses by providing free access to its products.

https://www.zacks.com/stock/news/2291567/intuit-intu-expands-ideas-program-to-help-small-businesses

News Article Image Intuit  ( INTU )  Expands IDEAS Program to Help Small Businesses

Intuit Expands IDEAS Program and its Partnership with the Los Angeles Urban League, Offering Small Businesses Free Access to Intuit Products, Services, Business Counseling, and Coaching

https://www.investing.com/news/press-releases/intuit-expands-ideas-program-and-its-partnership-with-the-los-angeles-urban-league-offering-small-businesses-free-access-to-intuit-products-services-business-counseling-and-coaching-93CH-3490059

https://www.investing.com/news/press-releases/intuit-expands-ideas-program-and-its-partnership-with-the-los-angeles-urban-league-offering-small-businesses-free-access-to-intuit-products-services-business-counseling-and-coaching-93CH-3490059

News Article Image Intuit Expands IDEAS Program and its Partnership with the Los Angeles Urban League, Offering Small Businesses Free Access to Intuit Products, Services, Business Counseling, and Coaching

Intuit Inc. Price History

24.05.2024 - INTU Stock was down 1.0%

  • The bearish movement in INTU could be attributed to investors with significant capital taking a bearish stance on the stock, as indicated by the publicly available options history.
  • Despite the positive development of the company expanding its IDEAS Program to support small businesses, the market may have reacted negatively due to broader market conditions or profit-taking by investors.
  • The expansion of the IDEAS Program, while beneficial for small businesses, may not have been substantial enough to offset the bearish sentiment driven by larger market forces impacting INTU's stock price.
  • It's essential to consider external factors such as overall market trends and investor sentiment when analyzing the stock movement of INTU, as they can influence the stock's performance beyond company-specific news.

12.05.2024 - INTU Stock was up 5.1%

  • The options market reflects a positive sentiment towards Intuit, with a notable portion of traders showing optimism.
  • Despite a recent decline in stock price following lower-than-expected Q4 2024 EPS, analysts maintain a favorable outlook on INTU stock, with a majority rating it as a Buy.
  • The company's presence in the Fortune 100 Best Companies to Work For list may have bolstered investor confidence and the upward movement in the market.
  • Unusual options activity signaling a bullish stance from investors further reinforces the favorable trajectory of Intuit's stock price.

12.05.2024 - INTU Stock was up 5.6%

  • The release of the Fortune 100 Best Companies to Work For list, where Intuit is featured, could have boosted investor confidence in the company's performance and future prospects.
  • Despite a recent tumble in stock price due to lower-than-expected Q4 2024 EPS guidance, analysts' positive ratings and the company's strong market share could have contributed to the bullish movement.
  • The unusual options activity showing a bullish stance by investors might have added to the positive sentiment surrounding Intuit's stock.
  • Intuit's strong brand equity, product offerings, and resilient business model could have reassured investors and attracted new buyers, leading to the bullish market movement.

30.04.2024 - INTU Stock was down 5.2%

  • The bearish movement in INTU stock could be attributed to the series of insider sales by the EVP and CFO, Sandeep Aujla, and EVP, Consumer Group, Mark Notarainni. Investor confidence may have been shaken by these significant sell-offs.
  • The executives offloading a substantial amount of company stock, totaling over $855k, likely raised concerns among investors about the company's future performance or growth prospects.
  • Additionally, the personal account of a former employee leaving Intuit and other big tech companies to pursue her own business might have added to the negative sentiment surrounding the stock, reflecting potential internal challenges within the company.
  • Overall, the combination of insider selling activities and a narrative of departing talent could have contributed to the bearish trend in INTU stock today.

30.04.2024 - INTU Stock was down 5.2%

  • The decline in INTU's stock price could be linked to a series of insider sales by key executives, including EVP and CFO Sandeep Aujla and EVP of the consumer group Mark Notarainni. This might have raised investor concerns about the company's future performance.
  • The significant sale of over $855k in company stock by the EVP and CFO may have exacerbated negative sentiment among investors, pointing towards a lack of confidence from top management.
  • Besides, an executive's departure from major tech companies like Intuit could have contributed to the bearish sentiment, hinting at potential internal challenges or organizational changes.
  • Despite the upcoming presentation by Mark Notarainni at the Bank of America Global Technology Conference, market sentiment seems to be overshadowed by insider selling and executive exits, driving the bearish movement in INTU's stock price.

24.04.2024 - INTU Stock was down 7.8%

  • Intuit Inc. (INTU) is a financial technology company known for products like TurboTax and accounting software. The overall market saw U.S. equities gaining, particularly driven by tech stocks.
  • INTU stock experienced a strong bearish movement, dropping around 8%.
  • Despite posting better-than-expected earnings for the third quarter and raising its full-year outlook, INTU's stock plummeted due to issuing weak earnings guidance for the current quarter.
  • The warning from Intuit that it could lose about 1 million free TurboTax users this fiscal year added to the negative sentiment surrounding the stock.
  • The market movement could be attributed to investors reacting negatively to the lower-than-expected earnings forecast and potential customer loss, overshadowing the company's strong performance in the previous quarter.

24.04.2024 - INTU Stock was down 8.7%

  • INTU shares dropped around 8% despite reporting strong Q3 earnings performance, beating revenue and earnings estimates.
  • The stock plunged due to the company issuing weak earnings guidance for the current quarter, overshadowing the positive results of the previous quarter.
  • A decline of 1 million free users for Intuit's TurboTax this tax season impacted the stock, despite an increase in average spending per user and revenue growth.
  • The market may have reacted negatively to the combination of strong past performance being overshadowed by concerns about future earnings and user base trends.

24.04.2024 - INTU Stock was down 9.3%

  • The decline in free users for TurboTax this tax season had a negative impact on Intuit's stock performance.
  • Despite the decrease in free users, the rise in average spending per user by 10% and revenue growth by 12% couldn't offset the overall bearish sentiment.
  • The highly sought-after metric of average brokerage recommendation (ABR) suggesting to add Intuit to one's portfolio did not seem to influence the market movement today.
  • Intuit's third-quarter results, which showed revenue exceeding projections due to increased customer preference for premium features during tax season, did not prevent the stock from trading lower.

24.04.2024 - INTU Stock was down 9.5%

  • Strong third-quarter results were reported by Intuit, with a 12% increase in revenue surpassing expectations.
  • Despite the positive earnings, the company issued weak guidance for the current quarter, leading to a bearish market reaction.
  • The bearish movement in INTU stock today may have been influenced by the market sentiment surrounding artificial intelligence and tech stocks like Nvidia.
  • Following a previous rout, the overall market rebounded slightly, with investors closely monitoring rate cut expectations and company earnings reports for potential market shifts.

05.02.2024 - INTU Stock was down 5.2%

  • Concerns regarding a potential pullback due to factors like inflation, interest rates, and commercial real estate debt countdown influenced the market sentiment.
  • Duolingo's high valuation and the possibility of a correction might have worried investors, resulting in a tech stock sell-off like INTU.
  • Super Micro and Deckers joining the S&P 500 index may have shifted investor focus to these new additions, deflecting attention from existing tech stocks like INTU.
  • The market trend towards growth stocks, as seen in discussions of outperforming giants and growth stock champions, potentially prompted a rotation out of INTU into other high-growth opportunities.

05.02.2024 - INTU Stock was down 3.0%

  • INTU stock saw a 1.04% decline in its value today.
  • An executive at Intuit, Kerry McLean, exercised stock options valued at $1.65M, potentially influencing the stock's downward trend.
  • Despite recent revenue growth, concerns arose due to insider selling, possibly affecting investor confidence and market performance.
  • Investor interest in emerging growth companies may have diverted attention from established firms like Intuit, leading to the stock's decline.

15.10.2023 - INTU Stock was up 5.1%

  • Intuit announced a strategic partnership with Allstate Health Solutions to provide expanded insurance options for QuickBooks Online Payroll customers, which could have boosted investor confidence in the company.
  • The article about fintech stocks presents buying opportunities for financially sound companies in the industry, which may have positively impacted Intuit's stock.
  • The options market shows a split sentiment between bullish and bearish positions on Intuit, indicating uncertainty among big-money traders.
  • The mention of Intuit's CEO being hired from Intuit in an article about Paypal's stock suggests a positive perception of the company's leadership and potential growth.
  • Overall, the bullish movement in INTU's stock today could be attributed to the strategic partnership announcement and positive market sentiment towards the fintech industry.

26.09.2023 - INTU Stock was down 5.0%

  • The article about the performance comparison in the software industry, including Adobe and its competitors, may have highlighted weaknesses or challenges faced by INTU, leading to a negative sentiment among investors.
  • The article discussing the intrinsic value of INTU in navigating market uncertainty might have raised concerns about the company's future prospects, causing investors to sell off their positions.
  • The article mentioning PayPal's low valuation compared to its competitors might have diverted investor attention away from INTU, leading to a decrease in demand for the stock.
  • The article about overlooked tech stocks poised for a massive rebound might have drawn investors' attention to other stocks, causing them to shift their investments away from INTU.
  • Overall, the combination of negative sentiment surrounding INTU's performance in the software industry, concerns about market uncertainty, and the diversion of investor attention to other stocks might have contributed to the bearish movement of INTU today.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.