Intapp (NASDAQ:INTA) Price Target Cut to $68.00 by Analysts at Truist Financial

Intapp (NASDAQ:INTA) had its price target lowered by Truist Financial from $80.00 to $68.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 29.89% from the stock’s current price.

Several other research analysts have also weighed in on INTA. Barclays lowered their price objective on Intapp from $68.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday. Raymond James reissued a “market perform” rating on shares of Intapp in a research note on Friday, January 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $71.00 price objective (up previously from $60.00) on shares of Intapp in a research report on Tuesday, February 4th. Stifel Nicolaus increased their target price on shares of Intapp from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $78.00 price target (down from $87.00) on shares of Intapp in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.91.

Intapp Price Performance

Shares of Intapp stock traded down $1.15 during midday trading on Wednesday, reaching $52.35. The company had a trading volume of 26,016 shares, compared to its average volume of 652,868. The stock has a fifty day moving average price of $61.82 and a 200 day moving average price of $60.90. Intapp has a fifty-two week low of $30.36 and a fifty-two week high of $77.74. The firm has a market cap of $4.16 billion, a PE ratio of -180.51 and a beta of 0.82.

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

Insider Buying and Selling

In other Intapp news, insider Thad Jampol sold 112,928 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $59.27, for a total transaction of $6,693,242.56. Following the transaction, the insider now directly owns 857,250 shares in the company, valued at approximately $50,809,207.50. This trade represents a 11.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John T. Hall sold 33,227 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $68.83, for a total transaction of $2,287,014.41. Following the completion of the sale, the chief executive officer now owns 5,258,576 shares of the company’s stock, valued at approximately $361,947,786.08. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,755 shares of company stock worth $17,088,761 in the last quarter. Insiders own 13.02% of the company’s stock.

Institutional Trading of Intapp

A number of large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. purchased a new position in Intapp during the fourth quarter valued at approximately $291,000. Venturi Wealth Management LLC bought a new stake in Intapp in the fourth quarter worth $305,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Intapp by 17.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 448,666 shares of the company’s stock valued at $28,755,000 after purchasing an additional 67,694 shares during the period. Barclays PLC increased its holdings in Intapp by 90.1% during the 3rd quarter. Barclays PLC now owns 106,781 shares of the company’s stock valued at $5,108,000 after purchasing an additional 50,607 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in Intapp in the 4th quarter worth $378,000. Hedge funds and other 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.