RBC Reiterates Outperform Rating on Intuit, Sets Target Price at $850

Summary

Royal Bank Of Canada has reiterated an ‘outperform’ rating for Intuit (NASDAQ:INTU) and set a price target of $850.00, suggesting a potential upside of 27.44%. Other analysts have varied ratings, with a consensus of ‘Moderate Buy’ and an average price target of $797.62. Intuit’s stock opened at $667.00, with a 12-month high of $813.70. The company reported earnings of $2.75 per share, exceeding estimates, and revenue of $3.83 billion, up 20.3% year-over-year. Insider trading activity has also been noted, with significant shares sold recently.Market Beat

Impact Analysis

So basically, RBC is doubling down on Intuit despite the mixed signals from other analysts and recent insider selling. The interesting part isn’t just the ‘outperform’ rating but the aggressive $850 target, which implies a 27.44% upside from the current price. This suggests RBC sees something others might be missing or is more bullish on Intuit’s long-term prospects. However, the technical analysis shows a bearish trend with MACD and moving averages indicating potential downside risks. Everyone’s focused on the strong Q4 results and revenue growth, but the light Q1 guidance and insider selling are red flags.GuruFocus+ 2 I’d read this as RBC trying to instill confidence amidst short-term volatility. The trade here might be to watch for a better entry point if the stock dips further, given the mixed short-term signals but strong long-term potential.