Intapp (NASDAQ:INTA) Upgraded by Piper Sandler to “Neutral” Rating

Intapp (NASDAQ:INTA) was upgraded by investment analysts at Piper Sandler to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $55.00 price objective on the stock. Piper Sandler’s price target would indicate a potential upside of 10.00% from the company’s previous close.

INTA has been the subject of several other research reports. Truist Financial lowered their price objective on shares of Intapp from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Citigroup restated a “neutral” rating on shares of Intapp in a report on Monday, April 21st. Wall Street Zen lowered shares of Intapp from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 21st. Barclays lowered their target price on shares of Intapp from $68.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Finally, UBS Group lowered their target price on shares of Intapp from $92.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.22.

Intapp Stock Down 6.1%

INTA stock opened at $50.00 on Tuesday. Intapp has a 52 week low of $31.08 and a 52 week high of $77.74. The company has a fifty day simple moving average of $54.90 and a two-hundred day simple moving average of $61.06. The firm has a market capitalization of $4.05 billion, a P/E ratio of -208.33 and a beta of 0.81.

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

Insider Transactions at Intapp

In related news, insider Thad Jampol sold 5,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $56.65, for a total value of $283,250.00. Following the completion of the sale, the insider now owns 857,250 shares of the company’s stock, valued at approximately $48,563,212.50. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John T. Hall sold 31,200 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $55.01, for a total transaction of $1,716,312.00. Following the completion of the transaction, the chief executive officer now directly owns 5,445,335 shares in the company, valued at $299,547,878.35. The trade was a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,841 shares of company stock valued at $10,951,226 over the last 90 days. 13.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new position in Intapp in the fourth quarter valued at about $25,000. Farther Finance Advisors LLC lifted its position in Intapp by 74.2% in the first quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock valued at $31,000 after buying an additional 224 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Intapp in the fourth quarter valued at about $32,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Intapp during the first quarter worth about $36,000. Finally, Quarry LP lifted its position in shares of Intapp by 1,155.4% during the first quarter. Quarry LP now owns 703 shares of the company’s stock worth $41,000 after purchasing an additional 647 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.