Intapp (NASDAQ:INTA) Shares Up 17.4% After Analyst Upgrade

Intapp, Inc. (NASDAQ:INTA)’s share price was up 17.4% on Wednesday after Raymond James raised their price target on the stock from $46.00 to $55.00. Raymond James currently has an outperform rating on the stock. Intapp traded as high as $59.28 and last traded at $59.24. Approximately 1,165,059 shares traded hands during trading, an increase of 80% from the average daily volume of 646,383 shares. The stock had previously closed at $50.47.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus increased their price target on Intapp from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. upped their price objective on Intapp from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday. Piper Sandler restated an “overweight” rating and set a $60.00 price objective (up from $46.00) on shares of Intapp in a report on Tuesday. Citigroup upped their price objective on Intapp from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Oppenheimer restated a “market perform” rating on shares of Intapp in a report on Monday, July 8th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.55.

Insider Activity

In other news, insider Thad Jampol sold 31,666 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.09, for a total transaction of $1,554,483.94. Following the transaction, the insider now owns 772,412 shares of the company’s stock, valued at approximately $37,917,705.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Thad Jampol sold 31,666 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.09, for a total transaction of $1,554,483.94. Following the transaction, the insider now owns 772,412 shares of the company’s stock, valued at approximately $37,917,705.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michele Murgel sold 1,252 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $62,600.00. Following the transaction, the insider now directly owns 152,702 shares in the company, valued at $7,635,100. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 151,239 shares of company stock worth $7,360,981 over the last ninety days. Corporate insiders own 13.02% of the company’s stock.

Hedge Funds Weigh In On Intapp

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Intapp by 42.7% in the first quarter. Vanguard Group Inc. now owns 5,014,640 shares of the company’s stock worth $172,002,000 after acquiring an additional 1,501,091 shares during the last quarter. Clearbridge Investments LLC bought a new position in Intapp in the first quarter worth about $16,156,000. Jane Street Group LLC lifted its holdings in Intapp by 766.2% in the first quarter. Jane Street Group LLC now owns 166,456 shares of the company’s stock worth $5,709,000 after acquiring an additional 147,240 shares during the last quarter. Swiss National Bank lifted its holdings in Intapp by 58.1% in the first quarter. Swiss National Bank now owns 86,500 shares of the company’s stock worth $2,967,000 after acquiring an additional 31,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Intapp by 18.4% in the second quarter. Dimensional Fund Advisors LP now owns 686,496 shares of the company’s stock worth $25,173,000 after acquiring an additional 106,668 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Intapp Price Performance

The stock’s fifty day simple moving average is $47.75 and its 200-day simple moving average is $39.93. The stock has a market cap of $4.56 billion, a P/E ratio of -126.33 and a beta of 0.64.

Intapp (NASDAQ:INTA) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.13 by $0.08. Intapp had a negative net margin of 7.44% and a negative return on equity of 5.36%. The company had revenue of $118.81 million for the quarter, compared to analyst estimates of $117.88 million. During the same quarter last year, the business earned ($0.20) earnings per share. Intapp’s revenue was up 17.0% compared to the same quarter last year. Analysts forecast that Intapp, Inc. will post -0.15 EPS for the current year.

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.