Truist Financial Has Lowered Expectations for Intapp (NASDAQ:INTA) Stock Price

Intapp (NASDAQ:INTA) had its price objective reduced by Truist Financial from $80.00 to $68.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 32.01% from the company’s current price.

A number of other equities analysts also recently weighed in on INTA. Citigroup reaffirmed a “neutral” rating and set a $78.00 price target (down previously from $87.00) on shares of Intapp in a research note on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $71.00 target price (up from $60.00) on shares of Intapp in a research report on Tuesday, February 4th. Raymond James reissued a “market perform” rating on shares of Intapp in a research report on Friday, January 3rd. UBS Group raised their price objective on Intapp from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Barclays decreased their target price on Intapp from $68.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.91.

Intapp Stock Up 0.5 %

Shares of NASDAQ:INTA opened at $51.51 on Wednesday. The company has a market cap of $4.09 billion, a P/E ratio of -177.61 and a beta of 0.82. The business has a fifty day simple moving average of $61.03 and a 200-day simple moving average of $60.86. Intapp has a 52 week low of $30.36 and a 52 week high of $77.74.

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

Insider Activity

In related news, insider Michele Murgel sold 7,531 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $68.83, for a total value of $518,358.73. Following the completion of the transaction, the insider now owns 223,945 shares of the company’s stock, valued at approximately $15,414,134.35. This represents a 3.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Scott Fitzgerald sold 2,086 shares of Intapp stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $64.54, for a total value of $134,630.44. Following the sale, the chief marketing officer now owns 47,517 shares in the company, valued at $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 274,755 shares of company stock worth $17,088,761 over the last ninety days. Corporate insiders own 13.02% of the company’s stock.

Institutional Investors Weigh In On Intapp

Several hedge funds and other institutional investors have recently modified their holdings of INTA. Invesco Ltd. grew its stake in Intapp by 6,506.1% in the fourth quarter. Invesco Ltd. now owns 1,980,506 shares of the company’s stock worth $126,931,000 after purchasing an additional 1,950,526 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Intapp by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 6,368,216 shares of the company’s stock worth $408,139,000 after buying an additional 672,832 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Intapp by 408.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 720,994 shares of the company’s stock worth $46,209,000 after acquiring an additional 579,075 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Intapp in the 4th quarter valued at approximately $30,563,000. Finally, Capital World Investors raised its position in shares of Intapp by 30.3% during the 4th quarter. Capital World Investors now owns 1,701,939 shares of the company’s stock valued at $109,077,000 after acquiring an additional 395,804 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

About Intapp

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.