Intuit (NASDAQ:INTU) is an applications and software company located in Mountain View, CA. The company focuses on developing business and financial management solutions for small businesses. With the company’s headquarters in the US, Intuit Inc. also operates offices across the globe including; the UK, Canada, India, Singapore, Australia, among others.

The company’s business is about to ignite another stream of income following the current shift in the corporate sector. Startups and individuals operating in the gig economy are now finding it simpler to use Intuit-based accounting systems to file taxes amongst accomplishing other accountancy tasks. River Cohen, an Intuit systems financial consultant and a registered QuickBooks partner, points that most individuals are now keen to do their own books thanks to platforms like Intuit’s QuickBooks that have made things easier.

The freelance marketplace is growing and this is likely to expand Intuit’s addressable market in the near future as more individuals and startups continue to embrace the paradigm shift in the corporate world.

Stock Performance

The Applications software company is valued at $28.28 billion. Its stock is currently performing at about 8% below its 52-week high and 21% above its 52-week low with a 1-year price history range of $88.17 – $116.97. At the time of writing this article, the stock was trading at $109.62 per share which is a 0.51% gain from the previous price close. Intuit also saw a day’s price range of $109.14 – $109.99 on the day.

Intuit’s short interest shares decreased by 8% to stand at 2.54 million shares with the technology company seeing 2% of its float shares sold on short. Intuit daily volumes spiked over the last month with 1.33 million shares traded per day. Intuit Inc. boasts a P/E ratio of 34.98 and a dividend yield of 0.34 per share.

Recent analyst coverage on the stock

Intuit has been given a “Buy” recommendation by a majority of the 18 firms currently covering the company. Of the 18 analysts, 1 gave the stock a “sell” recommendation with 7 giving Intuit Inc. a “hold” rating whereas 10 gave the company a buy rating.