PREVIEW: Intuit shares dip ahead of quarterly report
Shares in tax-preparation software co Intuit INTU.O down ~1% on Thursday ahead of fiscal Q1 financial report due after market close
Wall Street sees the co whose products include tax software, reporting adj EPS of $3.09 vs $2.50 in year-ago quarter on rev of $3.76 bln up from $3.28 bln year ago, as per LSEG
In the last 8 quarters EPS beat estimates every time
In September the co had risen after reaffirming its FY and Q1 EPS, revenue targets
Intuit on Tuesday announced a multi-year deal worth more than $100 million with OpenAI to use the ChatGPT maker's AI models to power AI agents across its apps such as TurboTax.
Shares in INTU last traded at $643.95 vs median PT of $822.50, down from $830.22 a month ago according to LSEG, which shows 33 analyst ratings: 8 'strong buy,' 18 'buy,' 6 'hold' and 1 'sell'
YTD the stock is up ~2.5% vs gain of ~18.5% for S&P 500 technology sector .SPLRCT
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