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

Intapp (NASDAQ:INTA) had its price target reduced by investment analysts at Citigroup from $66.00 to $53.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 21.87% from the stock’s previous close.

Other analysts have also issued reports about the company. Barclays lowered Intapp from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $60.00 to $44.00 in a research note on Monday. Truist Financial reduced their price objective on Intapp from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen lowered Intapp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 21st. Stifel Nicolaus reduced their price objective on Intapp from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, July 8th. Finally, Piper Sandler raised Intapp to a “neutral” rating and set a $55.00 price objective on the stock in a research note on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.11.

Intapp Price Performance

Intapp stock opened at $43.49 on Wednesday. Intapp has a 12 month low of $31.08 and a 12 month high of $77.74. The business has a 50 day simple moving average of $52.74 and a 200-day simple moving average of $58.89. The stock has a market capitalization of $3.52 billion, a PE ratio of -181.21, a price-to-earnings-growth ratio of 8.08 and a beta of 0.76.

Intapp (NASDAQ:INTA) last released its earnings results on Tuesday, May 6th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Intapp had a negative return on equity of 1.19% and a negative net margin of 3.78%. The company had revenue of $129.07 million during the quarter, compared to the consensus estimate of $128.84 million. During the same quarter last year, the company earned $0.14 earnings per share. Intapp’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Intapp will post -0.14 EPS for the current year.

Insider Buying and Selling at Intapp

In other Intapp news, insider Thad Jampol sold 5,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $56.65, for a total value of $283,250.00. Following the transaction, the insider directly owned 857,250 shares of the company’s stock, valued at $48,563,212.50. This represents a 0.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John T. Hall sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $55.28, for a total value of $442,240.00. Following the completion of the transaction, the chief executive officer directly owned 5,445,335 shares in the company, valued at approximately $301,018,118.80. The trade was a 0.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,913 shares of company stock valued at $4,257,984 over the last 90 days. 13.02% of the stock is owned by insiders.

Institutional Trading of Intapp

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its stake in Intapp by 74.2% during the 1st quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock valued at $31,000 after purchasing an additional 224 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Intapp during the 1st quarter valued at approximately $36,000. Quarry LP boosted its stake in Intapp by 1,155.4% during the 1st quarter. Quarry LP now owns 703 shares of the company’s stock valued at $41,000 after purchasing an additional 647 shares during the period. Nisa Investment Advisors LLC boosted its stake in Intapp by 414.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 803 shares of the company’s stock valued at $47,000 after purchasing an additional 647 shares during the period. Finally, Johnson Financial Group Inc. lifted its position in shares of Intapp by 273.8% in 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 period. 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.