Intapp (NASDAQ:INTA) Sets New 12-Month High on Analyst Upgrade

Intapp, Inc. (NASDAQ:INTA)’s stock price reached a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $58.00 to $75.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Intapp traded as high as $68.88 and last traded at $68.26, with a volume of 72804 shares trading hands. The stock had previously closed at $66.46.

Other equities analysts have also recently issued reports about the stock. Piper Sandler restated an “overweight” rating and set a $60.00 price target (up from $46.00) on shares of Intapp in a report on Tuesday, November 5th. Stifel Nicolaus increased their price target on shares of Intapp from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Bank of America lowered their target price on shares of Intapp from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Raymond James upped their price target on Intapp from $46.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Citigroup increased their price target on Intapp from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.09.

Insider Buying and Selling at Intapp

In other Intapp news, CFO David H. Morton, Jr. sold 10,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $64.83, for a total value of $648,300.00. Following the sale, the chief financial officer now directly owns 17,331 shares in the company, valued at approximately $1,123,568.73. This trade represents a 36.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Scott Fitzgerald sold 3,000 shares of Intapp stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $63.53, for a total value of $190,590.00. Following the transaction, the chief marketing officer now owns 42,212 shares in the company, valued at $2,681,728.36. This trade represents a 6.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 403,215 shares of company stock worth $22,106,070. Company insiders own 13.02% of the company’s stock.

Institutional Investors Weigh In On Intapp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Luxor Capital Group LP bought a new stake in shares of Intapp in the 3rd quarter valued at about $47,837,000. FMR LLC increased its holdings in shares of Intapp by 7.8% in the third quarter. FMR LLC now owns 5,658,957 shares of the company’s stock valued at $270,668,000 after purchasing an additional 411,434 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Intapp by 29.9% in the third quarter. Loomis Sayles & Co. L P now owns 1,492,620 shares of the company’s stock valued at $71,392,000 after purchasing an additional 343,275 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Intapp by 64.0% during the 2nd quarter. Clearbridge Investments LLC now owns 772,255 shares of the company’s stock worth $28,319,000 after buying an additional 301,238 shares during the period. Finally, Praesidium Investment Management Company LLC raised its holdings in Intapp by 15.3% in the 3rd quarter. Praesidium Investment Management Company LLC now owns 1,930,095 shares of the company’s stock valued at $92,316,000 after acquiring an additional 256,327 shares during the period. Institutional investors own 89.96% of the company’s stock.

Intapp Price Performance

The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -234.86 and a beta of 0.74. The company’s 50-day simple moving average is $55.04 and its 200-day simple moving average is $44.65.

Intapp (NASDAQ:INTA) last announced its earnings results on Monday, November 4th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. The company had revenue of $118.81 million for the quarter, compared to analysts’ expectations of $117.88 million. Intapp had a negative net margin of 4.74% and a negative return on equity of 2.08%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm earned ($0.20) earnings per share. Research analysts expect that Intapp, Inc. will post -0.14 earnings per share for the current year.

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.