Intapp (NASDAQ:INTA) PT Lowered to $50.00

Intapp (NASDAQ:INTA) had its price target lowered by equities research analysts at Citigroup from $52.00 to $50.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 36.35% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Intapp from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Oppenheimer dropped their price objective on shares of Intapp from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Piper Sandler reduced their target price on Intapp from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. BTIG Research dropped their price target on Intapp from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Barclays cut their price target on Intapp from $47.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $45.88.

Intapp Stock Performance

Shares of INTA stock opened at $36.67 on Friday. The stock has a fifty day simple moving average of $34.70 and a two-hundred day simple moving average of $36.81. The firm has a market capitalization of $2.69 billion, a PE ratio of -60.11 and a beta of 0.61. Intapp has a 52-week low of $30.36 and a 52-week high of $45.43.

Intapp (NASDAQ:INTA) last released its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.10. Intapp had a negative return on equity of 9.08% and a negative net margin of 10.44%. The firm had revenue of $110.64 million during the quarter, compared to analysts’ expectations of $108.18 million. On average, sell-side analysts forecast that Intapp will post -0.37 EPS for the current fiscal year.

Insider Activity

In other news, insider Thad Jampol sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $35.26, for a total transaction of $705,200.00. Following the transaction, the insider now owns 727,759 shares of the company’s stock, valued at approximately $25,660,782.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Thad Jampol sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $35.26, for a total transaction of $705,200.00. Following the transaction, the insider now directly owns 727,759 shares in the company, valued at approximately $25,660,782.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Donald F. Coleman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $35.37, for a total transaction of $176,850.00. Following the completion of the sale, the chief operating officer now directly owns 648,411 shares of the company’s stock, valued at approximately $22,934,297.07. The disclosure for this sale can be found here. Insiders sold 55,724 shares of company stock valued at $1,923,651 in the last ninety days. Insiders own 36.56% of the company’s stock.

Hedge Funds Weigh In On Intapp

A number of large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its position in shares of Intapp by 239.1% during the first quarter. Advisors Asset Management Inc. now owns 824 shares of the company’s stock worth $28,000 after purchasing an additional 581 shares during the last quarter. Comerica Bank boosted its position in Intapp by 218.4% in the 1st quarter. Comerica Bank now owns 1,261 shares of the company’s stock valued at $43,000 after buying an additional 865 shares during the period. Assetmark Inc. grew its stake in Intapp by 164.6% in the 4th quarter. Assetmark Inc. now owns 1,310 shares of the company’s stock worth $50,000 after acquiring an additional 815 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Intapp by 81,400.0% during the third quarter. PNC Financial Services Group Inc. now owns 2,445 shares of the company’s stock worth $82,000 after acquiring an additional 2,442 shares during the period. Finally, Covestor Ltd raised its stake in shares of Intapp by 52.0% during the first quarter. Covestor Ltd now owns 2,395 shares of the company’s stock valued at $82,000 after acquiring an additional 819 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

About Intapp

Intapp, Inc, through its subsidiary, Integration Appliance, Inc, provides industry-specific cloud-based software solutions for the professional and financial services industry in the United States, the United Kingdom, and internationally. Its solutions include DealCloud, a deal and relationship management solution that manages financial services firms' market relationships, prospective clients and investments, current engagements and deal processes, and operations and compliance activities; collaboration and content solutions, including Intapp documents, an engagement-centric document management system, and Intapp workspaces; risk and compliance management solutions, such as Intapp conflicts, Intapp intake, Intapp terms, Intapp walls, and Intapp employee compliance; and operational and financial management solutions comprising Intapp Billstream, a cloud-based automated proforma invoice solution, Intapp time, and Intapp terms.