Intuit Inc. (NASDAQ:INTU)
Intuit Inc. (INTU), a global company that provides business and financial management solutions for small businesses yesterday reported their fiscal third quarter 2017 financial results.
Intuit reported third quarter adjusted earnings of $3.90 per share which beat analyst expectations of $3.87 per share. Intuit reported second quarter revenues of $2.54 billion which beat analyst expectations of $2.5 billion.
Intuit Inc. Company’s Comments
“This was another strong quarter for Intuit, with a hard-fought tax season delivering the revenue we promised along with continued momentum in our QuickBooks franchise,” said Brad Smith, Intuit’s chairman and chief executive officer.
“Overall, we successfully delivered strong financial results. We entered the tax season with a clear plan to extend our lead in the do-it-yourself category and begin transforming the assisted category as well, embracing the power of the Intuit ecosystem. In small business, QuickBooks subscriber growth continued, driven by improvements across our platform for self-employed, small business and accountants,” Smith said. Business Wire
INTU Technical Analysis
Intuit Inc Chart
INTU opened trading yesterday at $127.80 which was up from the previous day’s trading close of $127.16. INTU closed trading yesterday at $129.15 and spiked up after market to $140.92, equivalent to a 9% increase from the closing price. Taking a look at the daily chart we can see that we are in unchartered territory as with the spike up INTU is now trading at all time highs.
Taking a closer look at the daily chart we can see that before the spike up INTU had already been in an overall upward trend dating back to April 26th when it traded at $115.81. INTU has a float of 242.53 million shares and traded 1.40 times the normal daily trading volume on Tuesday.
For day trading purposes, I would like to see INTU open trading on Wednesday above $137.00 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.50 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
Company Profile
Intuit Inc. provides business and financial management solutions for small businesses, consumers, and accounting professionals primarily in the United States and internationally. The company’s Small Business segment provides QuickBooks financial and business management online services, and desktop software; QuickBooks technical support services; financial supplies; and QuickBooks Online Accountant, QuickBooks Accountant Desktop, and QuickBooks Desktop Accountant Plus, as well as the QuickBooks ProAdvisor Program for the accounting professionals.
This segment also offers small business payroll products and services, including online payroll offerings, such as Quickbooks Online Payroll and Intuit Online Payroll; desktop payroll offerings comprising QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; and full service payroll offerings, such as Intuit Full Service Payroll and QuickBooks Assisted Payroll.
In addition, it provides merchant services, including credit and debit card processing; Web-based transaction processing services for online merchants; online payment services; GoPayment mobile payment processing services; and QuickBooks point of sale solutions. Its Consumer segment provides TurboTax income tax preparation products and services; and electronic tax filing services. The company’s Professional Tax segment offers Lacerte, ProSeries, ProFile, and Intuit Tax Online professional tax products and services; and electronic tax filing services, bank product transmission services, and training services.
The company sells its products and services through various sales and distribution channels, including Websites, promotions, call centers, retail locations, and online mobile application stores, as well as through alliance partners, such as banks, credit unions, and other financial institutions. Intuit Inc. was founded in 1983 and is headquartered in Mountain View, California.