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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Intuit Inc.    INTU

INTUIT INC.

(INTU)
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Nasdaq set to open higher after Salesforce, HP Enterprise results

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08/26/2020 | 10:07am EDT

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)

* Salesforce set to hit new high after forecast bump

* Intuit, Hewlett Packard Enterprise jump after results

* Futures: Dow dips 0.10%, S&P flat, Nasdaq up 0.12%

Aug 26 (Reuters) - The tech-heavy Nasdaq was set to open slightly higher on Wednesday after upbeat business updates from Salesforce and HP Enterprise, while the S&P 500 headed for a subdued start.

Salesforce.com Inc, which is set to enter the blue-chip Dow index next week, jumped 14.3% in premarket trading after the cloud software maker raised its annual revenue forecast on surging demand for its online business software.

Income-tax filing software firm Intuit Inc advanced 6.1% after it reported a 17% rise in quarterly revenue, while Hewlett Packard Enterprise Co added 7.2% as its full-year profit outlook came ahead of market expectations.

The S&P 500 and the Nasdaq hit a series of record closing highs recently, driven by stimulus and demand for tech-focused stocks, even though economic data pointed to an uneven recovery from a recession. A survey on Tuesday showed U.S. consumer confidence hit a six-year low in August.

All eyes will be on Fed Chair Jerome Powell's address at the virtual Jackson Hole symposium before markets open on Thursday, where he is expected to outline a softer policy stance on inflation.

"We know that he's going to speak about inflation, and that he's going to say that the Fed remains committed to use all the necessary tools to help the economy as needed," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

"A lot of this is already in the marketplace, but the market wants confirmation of it."

At 8:44 a.m. ET, Dow e-minis were down 29 points, or 0.1%, S&P 500 e-minis were up 0.25 points, or 0.01% and Nasdaq 100 e-minis were up 13.75 points, or 0.12%.

Nordstrom Inc tumbled 5.1% after reporting a bigger-than-expected loss as its stores were shuttered for about half of the reported quarter and consumers stayed at home with little need for designer clothes. (Reporting by Medha Singh in Bengaluru; Editing by Saumyadeb Chakrabarty and Arun Koyyur)


Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -1.18% 26320.09 Delayed Quote.-6.59%
HEWLETT PACKARD ENTERPRISE COMPANY -0.59% 8.5 Delayed Quote.-46.22%
INTUIT INC. -2.74% 316.17 Delayed Quote.24.31%
NASDAQ 100 -2.64% 11033.095525 Delayed Quote.32.82%
NASDAQ COMP. -2.45% 10895.933572 Delayed Quote.27.40%
NORDSTROM, INC -2.46% 11.905 Delayed Quote.-70.17%
S&P 500 -1.55% 3255.14 Delayed Quote.2.46%
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Financials (USD)
Sales 2021 8 244 M - -
Net income 2021 1 944 M - -
Net cash 2021 5 050 M - -
P/E ratio 2021 44,2x
Yield 2021 0,73%
Capitalization 85 247 M 85 247 M -
EV / Sales 2021 9,73x
EV / Sales 2022 8,56x
Nbr of Employees 10 600
Free-Float 96,6%
Chart INTUIT INC.
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Intuit Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends INTUIT INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 360,63 $
Last Close Price 325,61 $
Spread / Highest target 24,4%
Spread / Average Target 10,8%
Spread / Lowest Target -20,8%
EPS Revisions
Managers
NameTitle
Sasan K. Goodarzi President, Chief Executive Officer & Director
Brad D. Smith Executive Chairman
Michelle M. Clatterbuck Chief Financial Officer & Executive Vice President
Atticus Tysen Chief Information Officer & Senior Vice President
Marianna Tessel Chief Technology Officer & Executive VP
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