Intuit (INTU) Stock Falls Despite Strong Earnings Beat

Intuit (INTU) stock rose in the latest trading session, but it is still lagging behind the market. The company is scheduled to release its earnings report soon, and analysts are expecting it to post year-over-year growth. However, the stock’s valuation metrics suggest that it is currently overvalued.

Intuit (INTU) Stock Falls Despite Strong Earnings Beat

Intuit (INTU) stock rose in the latest trading session, closing at $303.60 with a gain of 0.66%. The stock lagged behind the S&P 500 Index, which gained 1.05% on the day. Despite the gain, Intuit’s stock is still down 1.84% year-to-date.

The company’s recent earnings report may have contributed to the stock’s performance. Intuit beat analysts’ expectations for both earnings per share and revenue in its fiscal fourth quarter. The company also raised its guidance for the current fiscal year.

Analysts are expecting Intuit to continue to perform well in the coming quarters. The Zacks Consensus Estimate for earnings per share in the current fiscal year is $11.60, which would mark a 10.7% increase from the previous year.

Intuit’s stock has a Zacks Rank of #3 (Hold). The company’s forward PE ratio is 32.44, which is a premium to the average forward PE ratio of the industry.

Intuit is a leading provider of financial software and services. The company’s products include TurboTax, QuickBooks, and Mint. Intuit has been benefiting from the recent shift to digital tax filing and accounting.

Investors will be watching Intuit’s upcoming earnings disclosure closely. The company is expected to release its fiscal first-quarter results in late February.