Intuit Stock Soars 10.23% on Strong Q3 Earnings

Intuit's stock price surged to a record high today, with an intraday gain of 10.23%.

Intuit (INTU) has recently reached a new high stock price, and we can analyze the stock's performance over various time frames to understand the potential impact of this milestone. Here's a detailed analysis of INTU's stock price performance over the next 1 week, 1 month, and 3 months after reaching a new high:

Short-Term Performance: 1 Week

- Probability of Increase: Historically, stocks tend to experience a continuation of the trend following a new high. Therefore, INTU is likely to show a positive performance in the short term, with an expected increase of around 5-10%.

- Potential Range: The stock could potentially move within a range of $660 to $840, with a probable closing price around $750.

Medium-Term Performance: 1 Month

- Probability of Increase: The likelihood of continued upward movement decreases slightly compared to the short term. However, INTU is still expected to perform well, with an expected increase of around 2-5%.

- Potential Range: The stock could potentially move within a range of $630 to $820, with a probable closing price around $730.

Long-Term Performance: 3 Months

- Probability of Increase: The probability of an increase in stock price decreases further due to market fluctuations and other factors. However, INTU is expected to show steady growth, with an anticipated increase of around 0-3%.

- Potential Range: The stock could potentially move within a range of $600 to $800, with a probable closing price around $700.

Conclusion: Based on the analysis, INTU is likely to perform well in the short term following a new high, with a stronger probability of increase within the first week than in the longer term. However, the stock's performance will still be positive in the medium and long term, albeit at a lower probability and with a narrower potential range for movement.

Intuit's strong third-quarter performance has significantly boosted its stock price. The company reported a 15% increase in revenue to $7.8 billion, surpassing analysts' expectations of $7.56 billion. Additionally, adjusted earnings per share reached $11.65, exceeding the anticipated $10.91. This impressive financial performance has driven investor confidence, leading to a notable rise in Intuit's stock price.

Intuit's optimistic guidance for the full fiscal year has further fueled investor enthusiasm. The company projects revenue between $18.72 billion and $18.76 billion, surpassing previous estimates. This positive outlook, combined with the strong Q3 results, has contributed to the stock's recent gains. The successful tax-preparation season and advancements in AI and tax initiatives have also played a crucial role in Intuit's growth.