Intapp (NASDAQ:INTA) Price Target Cut to $68.00 by Analysts at Truist Financial

Intapp (NASDAQ:INTA) had its price target dropped by equities researchers at Truist Financial from $80.00 to $68.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 29.89% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus upped their price target on shares of Intapp from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. UBS Group increased their target price on shares of Intapp from $89.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Raymond James reiterated a “market perform” rating on shares of Intapp in a research report on Friday, January 3rd. Barclays reduced their price target on Intapp from $68.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Piper Sandler reiterated an “overweight” rating and set a $71.00 target price (up from $60.00) on shares of Intapp in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intapp has an average rating of “Moderate Buy” and a consensus price target of $64.91.

Intapp Stock Performance

INTA traded down $1.15 on Wednesday, reaching $52.35. The company had a trading volume of 26,016 shares, compared to its average volume of 652,868. The stock has a market cap of $4.16 billion, a P/E ratio of -180.51 and a beta of 0.82. Intapp has a fifty-two week low of $30.36 and a fifty-two week high of $77.74. The company’s fifty day moving average is $61.82 and its 200 day moving average is $60.90.

Intapp (NASDAQ:INTA) last released its quarterly earnings results on Tuesday, February 4th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.25). Intapp had a negative return on equity of 1.86% and a negative net margin of 4.78%. On average, sell-side analysts expect that Intapp will post -0.14 EPS for the current year.

Insider Buying and Selling

In other news, insider Michele Murgel sold 1,962 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $60.00, for a total value of $117,720.00. Following the sale, the insider now directly owns 182,462 shares in the company, valued at approximately $10,947,720. This trade represents a 1.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Scott Fitzgerald sold 2,086 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $64.54, for a total transaction of $134,630.44. Following the transaction, the chief marketing officer now owns 47,517 shares of the company’s stock, valued at approximately $3,066,747.18. This represents a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,755 shares of company stock worth $17,088,761 in the last ninety days. 13.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Intapp in the fourth quarter valued at about $25,000. Raleigh Capital Management Inc. bought a new position in Intapp in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in Intapp during the 4th quarter worth approximately $32,000. Farther Finance Advisors LLC boosted its position in Intapp by 74.2% during the 1st quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock worth $31,000 after buying an additional 224 shares during the period. Finally, Johnson Financial Group Inc. grew its holdings in Intapp by 273.8% during the 4th quarter. Johnson Financial Group Inc. now owns 826 shares of the company’s stock worth $53,000 after acquiring an additional 605 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

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.