Intapp (NASDAQ:INTA) Reaches New 52-Week High Following Better-Than-Expected Earnings

Intapp, Inc. (NASDAQ:INTA)’s stock price reached a new 52-week high on Tuesday following a stronger than expected earnings report. The company traded as high as $54.68 and last traded at $52.97, with a volume of 55861 shares changing hands. The stock had previously closed at $50.22.

The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. The business had revenue of $118.81 million for the quarter, compared to the consensus estimate of $117.88 million. Intapp had a negative net margin of 7.44% and a negative return on equity of 5.36%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.20) earnings per share.

Wall Street Analyst Weigh In

Several research firms have recently commented on INTA. JPMorgan Chase & Co. raised their price target on Intapp from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday. Citigroup raised their target price on Intapp from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Bank of America lowered their price target on shares of Intapp from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Stifel Nicolaus increased their price target on shares of Intapp from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Truist Financial reissued a “buy” rating and set a $55.00 price objective (up previously from $47.00) on shares of Intapp in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Intapp currently has an average rating of “Moderate Buy” and a consensus price target of $53.55.

Insider Activity at Intapp

In other Intapp news, COO Donald F. Coleman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $49.23, for a total transaction of $246,150.00. Following the completion of the transaction, the chief operating officer now owns 668,239 shares of the company’s stock, valued at approximately $32,897,405.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Thad Jampol sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $45.09, for a total value of $901,800.00. Following the completion of the transaction, the insider now owns 772,412 shares of the company’s stock, valued at approximately $34,828,057.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Donald F. Coleman sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $49.23, for a total transaction of $246,150.00. Following the sale, the chief operating officer now directly owns 668,239 shares in the company, valued at $32,897,405.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,239 shares of company stock valued at $7,360,981. 13.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intapp

Several institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Intapp by 1,054.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 577 shares of the company’s stock worth $28,000 after acquiring an additional 527 shares during the period. J.Safra Asset Management Corp boosted its holdings in shares of Intapp by 634.0% during the second quarter. J.Safra Asset Management Corp now owns 712 shares of the company’s stock worth $26,000 after purchasing an additional 615 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Intapp by 239.1% in the first quarter. Advisors Asset Management Inc. now owns 824 shares of the company’s stock valued at $28,000 after purchasing an additional 581 shares during the period. Blue Trust Inc. acquired a new position in Intapp in the second quarter valued at $30,000. Finally, Financial Management Professionals Inc. acquired a new position in Intapp in the third quarter valued at $57,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Intapp Price Performance

The company has a 50-day moving average of $47.64 and a two-hundred day moving average of $39.79. The stock has a market capitalization of $3.88 billion, a PE ratio of -112.16 and a beta of 0.64.

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.