US tax software giant INTUpennslammer35500forsale.US) intraday fell more than 9% to 600pennslammer35500forsaleAt $.485, the stock price hit a new low since April 19.
Caijie reported results showing an adjusted EPS of $9.88 for the fiscal third quarter, higher than analysts 'expectationspennslammer35500forsaleNet revenue was $9.38; net revenue was $6.74 billion, a year-on-year increase of 12%, higher than analysts 'expectations of $6.64 billion. The full-year adjusted EPS is expected to be US$16.79, higher than analysts 'expectations of US$16.42; full-year revenue is expected to be US$16.16 billion to US$16.20 billion, compared with the company's original forecast of US$15.89 billion to US$16.11 billion. Fiscal fourth-quarter revenue is expected to grow by approximately 13%-14%.
After the results were announced, several major banks issued research reports on thempennslammer35500forsale:
Barclays Bank: Maintain target price of US$745 and maintain buy rating;
Citigroup: Maintain target price of US$744 and maintain buy rating;
Bank of America: lowered its target price from $760 to $730 and maintained its buy rating;
Goldman Sachs: Raise its target price to $705 from $690 and maintain its buy rating.