Intuit is one of those Steady Eddie companies that grows at a modest but reliable rate. Intuit stock keeps pace. Shares of the Tax and business software and service provider have risen 133% since late 2020 amid the Covid market crash.
Intuit Stock Up 292% In Six Years
Looking back further though, Intuit stock soared 292% from an intraday low 111.38 in early November 2016 to Wednesday's 436.84 close, up 1.8% for the day. And, as tax prep season nears, on Wednesday the Relative Strength (RS) Rating for Intuit stock rose from 63 the day before to 73.
The 73 RS Rating means Intuit stock has performed better than 73% of all stocks in terms of price performance. It's a good but not yet great rating. Market research has shown that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves.
See if Intuit stock can continue to show renewed price strength and clear that threshold.
See How IBD Helps You Make More Money In Stocks
Great Start To Year, Marred By Bad Quarter
Mountain View, Calif.-based Intuit had a rough outing last quarter. Its earnings dropped 44% year over year, to $1.10 per share, on a 6% dip in revenue to $2.41 billion. The weak results look to be an outlier though. Intuit reported EPS gains of 63%, 128% and 26% the prior three quarters. During that time its revenue grew 52%, 70% and 35%.
Take Our Anonymous Survey And Tell Us What You Like (And Don't Like)
Ten Participants Will Win A $50 Amazon Gift Card.
Intuit stock earns the No. 6 rank among its peers in the Computer Software-Financial industry group. Jack Henry & Associates and Black Knight are also among the group's highest-rated stocks.
When researching the best stocks to buy and watch, a check on relative price strength can pay off handsomely.
IBD's proprietary Relative Strength Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks stacks up against all the other stocks in our database.
Please follow James DeTar on Twitter @JimDeTar
