Piper Sandler Has Lowered Expectations for Intapp (NASDAQ:INTA) Stock Price

Intapp (NASDAQ:INTA) had its price objective dropped by stock analysts at Piper Sandler from $71.00 to $70.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 28.29% from the stock’s previous close.

Several other research firms have also recently weighed in on INTA. Barclays dropped their price objective on Intapp from $68.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. UBS Group raised their price target on Intapp from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Citigroup reissued a “neutral” rating on shares of Intapp in a research report on Monday, April 21st. Truist Financial dropped their target price on shares of Intapp from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus reduced their price target on shares of Intapp from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Intapp has a consensus rating of “Moderate Buy” and an average target price of $66.89.

Intapp Stock Performance

Shares of Intapp stock opened at $54.56 on Wednesday. Intapp has a 52-week low of $31.08 and a 52-week high of $77.74. The company’s 50 day moving average price is $56.57 and its 200-day moving average price is $61.49. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of -188.14 and a beta of 0.84.

Intapp (NASDAQ:INTA) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $129.07 million for the quarter, compared to analysts’ expectations of $128.84 million. Intapp had a negative net margin of 4.78% and a negative return on equity of 1.86%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 earnings per share. As a group, equities research analysts forecast that Intapp will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Thad Jampol sold 112,928 shares of Intapp stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $59.27, for a total transaction of $6,693,242.56. Following the completion of the transaction, the insider now directly owns 857,250 shares in the company, valued at approximately $50,809,207.50. This trade represents a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John T. Hall sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $57.15, for a total value of $457,200.00. Following the completion of the sale, the chief executive officer now owns 5,236,895 shares in the company, valued at $299,288,549.25. The trade was a 0.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,755 shares of company stock valued at $17,372,011 over the last quarter. Corporate insiders own 13.02% of the company’s stock.

Hedge Funds Weigh In On Intapp

Several large investors have recently modified their holdings of INTA. Victory Capital Management Inc. increased its stake in Intapp by 2.0% during the 4th quarter. Victory Capital Management Inc. now owns 8,652 shares of the company’s stock valued at $555,000 after purchasing an additional 171 shares in the last quarter. CWM LLC increased its position in shares of Intapp by 27.0% during the first quarter. CWM LLC now owns 1,003 shares of the company’s stock valued at $59,000 after acquiring an additional 213 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Intapp by 74.2% in the 1st quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock worth $31,000 after acquiring an additional 224 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Intapp by 8.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,964 shares of the company’s stock valued at $190,000 after acquiring an additional 239 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in Intapp during the 4th quarter valued at $25,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Intapp Company Profile

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.