What Is Intuit Worth?
Time & Model
Time & Model
Aug. 20, 2014, 5:35 PM
Aug. 7, 2014, 6:46 PM
- Intuit (NASDAQ:INTU) is buying PaySuite, a U.K.-based provider of cloud payroll software. Terms are undisclosed.
- Intuit states the deal will allow small businesses to "seamlessly integrate" payroll data with QuickBooks Online, and furthers its goal of "providing small businesses with the full range of cloud-based business management tools."
- PaySuite is Intuit's first acquisition in FY15 (ends July '15), following nearly a dozen in FY14. In May, the company announced it's buying popular bill-payment app Check for $360M.
May 27, 2014, 9:38 AM
- Intuit (INTU) is paying $360M in cash and "other consideration" for Check, whose bill-payment/monitoring apps claim 10M registered users. The deal is expected to close in the July quarter.
- Intuit declares Check provides it with "a critical consumer payments capability that will allow the company to streamline interactions between consumer and small business customers," and suggests it complements its Quicken and Mint personal finance products.
- The WSJ first reported of Intuit's interest in Check in April. The tax software giant has been buying companies early and often in recent years.
May 20, 2014, 5:38 PM
May 20, 2014, 4:48 PM
- Intuit (INTU) expects FQ4 revenue of $683M-$713M and EPS of $0.06-$0.08, largely below a consensus of $712.2M and $0.12.
- The company met revenue estimates for seasonally huge FQ3 (set to account for over half of FY14 revenue) on the back of a 14% Y/Y increase in TurboTax Online units for tax season, and a 60K Q/Q increase in QuickBooks Online subs to 624K (+36% Y/Y).
- Total product revenue rose 15% Y/Y to $735M, and service/other revenue 14% to $1.65B. Small business revenue +8%, consumer +13%, professional tax +32%.
- Costs/expenses grew 11% to $894M, with sales/marketing spend rising 7% to $412M.
- FQ3 results, PR
May 20, 2014, 4:03 PM
- Intuit (INTU): FQ3 EPS of $3.53 beats by $0.03.
- Revenue of $2.38B (+9.2% Y/Y) in-line.
- Shares -5.00% AH.
May 19, 2014, 5:35 PM
Apr. 30, 2014, 8:10 AM
- The WSJ reports Intuit (INTU) is in talks to buy Check, developer of a bill-payment/money management app with 10M+ users, for over $350M. The paper cautions discussions are at an early stage.
- Check, which has its share of rivals, monetizes its apps via ads. The company reportedly expects 2014 revenue of over $20M, up from less than $15M in 2013.
- Intuit, which has proclaimed it wants to be "the operating system for small business," has bought a slew of companies in recent years that provide Web-based or mobile tools for SMBs to help manage their day-to-day activities (Demandforce being the largest). Compared with many other acquisition targets, Check is relatively consumer-focused.
Apr. 25, 2014, 11:47 AM
- Intuit (INTU +2.9%) has its tail in the air after reporting 14% growth in TurboTax online sales this year, and upping guidance for Consumer Tax revenue growth to about 6% from the previous 4-5% range. Total company revenue growth guidance of 6-8% is reiterated.
Apr. 22, 2014, 9:46 AM
- Frontier (FTR -1.7%) has been cut to Hold by Gabelli.
- Intuit (INTU +1.8%) has been upgraded to Equal Weight by Evercore.
- HomeAway (AWAY +3%) has been upgraded to Outperform by FBR ahead of Thursday's Q1 report.
- GSV Capital (GSVC +1.1%) has been started at Buy by Roth.
- Nimble Storage (NMBL -2.1%) has been started at Underperform by DA Davidson.
- InterXion (INXN -1%) has been cut to Equal Weight by Evercore. Q1 results arrive on May 7.
- IPO underwriters have granted five bullish ratings apiece to 2U (TWOU +6.8%) and Aerohive (HIVE +1.3%).
Mar. 3, 2014, 9:32 AM
- Autodesk (ADSK -2.7%) has been cut to Sell by Citi. Shares initially rose last week in response to the CAD software giant's FQ4 revenue beat and strong top-line guidance, but later sold off.
- Intuit (INTU +0.3%) has been upgraded to Buy by Citi.
- RF Micro (RFMD +0.7%) has been upgraded to Buy by BofA/Merrill.
- Infosys (INFY -2%) has been cut to Neutral by Baird.
- Intelsat (I -3.5%) has been cut to Neutral by JPMorgan.
- Procera (PKT -1.2%) has been cut to Buy from Strong Buy by Needham in the wake of last Thursday's Q4 miss.
- TDS (TDS +3.8%) and U.S. Cellular (USM +3.3%) have been upgraded to Overweight by JPMorgan.
Feb. 24, 2014, 9:51 AM
- Carl Icahn pulls no punches in a letter to eBay (EBAY +3%) shareholders that blasts the perceived conflicts of interests of board members Marc Andreessen and Scott Cook, and declares CEO John Donahoe appears to be "completely asleep or, even worse, either naive or willfully blind."
- Icahn, still calling for a PayPal split, notes Andreessen's VC firm was part of an investor group that "bought 70% of Skype for less than what eBay had paid to acquire it," and that it would later be sold to Microsoft for ~3x eBay's sale price.
- He also claims Andreessen has made investments in at least five eBay competitors, four of which are PayPal rivals, while on eBay's board.
- Icahn observes director Scott Cook is the former CEO of Intuit (INTU - a mobile payments rival to PayPal), and remains on Intuit's board. He also claims a "pending DOJ complaint" exists regarding a no-hire pact between eBay and Intuit.
- eBay has responded to Icahn's letter. The company: 1) Defends the Skype sale, and says Andreessen was "recused from all decision making" related to the deal. 2) Says Andreessen isn't up for re-election to the board. 3) Calls Cook "an enormous asset" to eBay's board, and insists the product overlap between eBay and Intuit is small.
- Icahn has nominated two directors to eBay's board.
Feb. 20, 2014, 4:02 PM
- Intuit Inc. (INTU): FQ2 EPS of $0.02 in-line
- Revenue of $782M (-19.2% Y/Y) beats by $3.12M.
Feb. 20, 2014, 12:10 AM| Feb. 20, 2014, 12:10 AM | 2 Comments
Feb. 19, 2014, 5:35 PM| Feb. 19, 2014, 5:35 PM
Feb. 12, 2014, 9:47 AM
- Amazon (AMZN -1.6%) has been cut to Neutral by UBS. The firm cites Amazon's soft Q4 top-line performance, and a CIRP survey that indicates only 58% and 24% of Prime subs would respectively renew following price hikes of $20 and $40 (currently under consideration).
- Intuit (INTU -5%) has been cut to Underweight by Evercore following its FQ2 guidance cut.
- Veeco (VECO +3.1%) has been upgraded to Outperform by Credit Suisse ahead of its Feb. 19 Q4 report.
- comScore (SCOR -0.8%) has been upgraded to Outperform by Northland following its Q4 beat.
- Itron (ITRI +5.5%) has been upgraded to Buy by Needham ahead of today's Q4 report.
Intuit, Inc. provides business and financial management solutions for small businesses, consumers, and accounting professionals. Its flagship products and services include QuickBooks, TurboTax, Quicken and Mint, assists customers in running a small business, paying bills, filing income tax... More
Industry: Application Software
Country: United States
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