Intapp (NASDAQ:INTA) Stock Price Up 6% Following Analyst Upgrade

Intapp, Inc. (NASDAQ:INTA) traded up 6% during trading on Tuesday after UBS Group raised their price target on the stock from $84.00 to $89.00. UBS Group currently has a buy rating on the stock. Intapp traded as high as $71.07 and last traded at $71.71. 98,397 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 569,484 shares. The stock had previously closed at $67.62.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Intapp from $58.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Piper Sandler reiterated 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. Raymond James reiterated a “market perform” rating on shares of Intapp in a report on Friday, January 3rd. Stifel Nicolaus lifted their price target on shares of Intapp from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Citigroup restated a “neutral” rating and issued a $78.00 target price (down from $87.00) on shares of Intapp in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.36.

Insider Activity

In other news, COO Donald F. Coleman sold 35,778 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $54.23, for a total transaction of $1,940,240.94. Following the completion of the sale, the chief operating officer now owns 668,239 shares in the company, valued at approximately $36,238,600.97. This represents a 5.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ralph Baxter sold 9,289 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $70.14, for a total value of $651,530.46. Following the sale, the director now owns 9,441 shares of the company’s stock, valued at $662,191.74. This trade represents a 49.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 402,624 shares of company stock valued at $24,954,154. 13.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intapp

Several hedge funds have recently bought and sold shares of the business. Raleigh Capital Management Inc. acquired a new stake in Intapp during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC raised its position 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 purchasing an additional 527 shares during the last quarter. Quest Partners LLC bought a new position in Intapp in the 3rd quarter worth approximately $54,000. Financial Management Professionals Inc. bought a new stake in shares of Intapp during the 3rd quarter valued at $57,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Intapp in the 3rd quarter valued at $64,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Intapp Trading Up 5.8 %

The company has a market cap of $5.54 billion, a price-to-earnings ratio of -246.77 and a beta of 0.73. The firm’s fifty day moving average price is $65.20 and its 200-day moving average price is $52.09.

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