Zacks Investment Research Lowers Intapp (NASDAQ:INTA) to Sell

Intapp (NASDAQ:INTAGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Intapp Inc. is a provider of industry-specific, cloud-based software solutions which enable connected professional and financial services firms. Intapp Inc. is based in PALO ALTO, Calif. “

A number of other brokerages also recently commented on INTA. Credit Suisse Group dropped their price objective on shares of Intapp from $45.00 to $35.00 in a research report on Thursday, February 10th. Piper Sandler decreased their price target on shares of Intapp from $36.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, January 13th. Raymond James decreased their price target on shares of Intapp from $41.00 to $32.00 and set an “outperform” rating for the company in a research note on Thursday, February 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Intapp from $50.00 to $42.00 in a research note on Thursday, February 10th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $37.75.

Shares of NASDAQ:INTA traded up $0.08 during trading hours on Friday, reaching $24.50. The stock had a trading volume of 59,327 shares, compared to its average volume of 162,532. Intapp has a 1 year low of $17.07 and a 1 year high of $40.91. The firm’s 50 day moving average is $23.22 and its 200-day moving average is $24.20.

Intapp (NASDAQ:INTAGet Rating) last announced its quarterly earnings data on Wednesday, February 9th. The company reported ($0.34) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.03. The firm had revenue of $64.70 million during the quarter, compared to analysts’ expectations of $58.65 million. As a group, equities research analysts expect that Intapp will post -1.5 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Intapp by 11.2% in the 4th quarter. BlackRock Inc. now owns 621,539 shares of the company’s stock valued at $15,638,000 after purchasing an additional 62,501 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Intapp by 26,963.6% in the 4th quarter. Wells Fargo & Company MN now owns 14,885 shares of the company’s stock valued at $374,000 after purchasing an additional 14,830 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Intapp during the 4th quarter valued at about $591,000. California State Teachers Retirement System increased its holdings in Intapp by 199.0% during the 4th quarter. California State Teachers Retirement System now owns 16,264 shares of the company’s stock valued at $409,000 after acquiring an additional 10,824 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Intapp by 234.4% during the 4th quarter. Legal & General Group Plc now owns 3,307 shares of the company’s stock valued at $83,000 after acquiring an additional 2,318 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Intapp Company Profile (Get Rating)

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; and OnePlace, a solution to manage various aspects of professional services firms' client and engagement lifecycle.

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