Intapp (NASDAQ:INTA) Stock Price Up 6% After Analyst Upgrade

Intapp, Inc. (NASDAQ:INTA)’s share price was up 6% during trading on Tuesday after UBS Group raised their price target on the stock from $84.00 to $89.00. UBS Group currently has a buy rating on the stock. Intapp traded as high as $71.07 and last traded at $71.71. Approximately 98,397 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 569,484 shares. The stock had previously closed at $67.62.

Several other research analysts also recently issued reports on INTA. Truist Financial upped their price target on shares of Intapp from $55.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Raymond James reiterated a “market perform” rating on shares of Intapp in a research report on Friday, January 3rd. Stifel Nicolaus increased their price target on shares of Intapp from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Barclays boosted their price objective on shares of Intapp from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price objective on Intapp from $58.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.36.

Insiders Place Their Bets

In other Intapp news, Director Ralph Baxter sold 9,289 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $70.14, for a total value of $651,530.46. Following the sale, the director now directly owns 9,441 shares in the company, valued at approximately $662,191.74. This trade represents a 49.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thad Jampol sold 20,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $61.85, for a total transaction of $1,237,000.00. Following the completion of the transaction, the insider now directly owns 828,197 shares of the company’s stock, valued at $51,223,984.45. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 402,624 shares of company stock valued at $24,954,154. Company insiders own 13.02% of the company’s stock.

Institutional Trading of Intapp

Several hedge funds have recently added to or reduced their stakes in INTA. FMR LLC grew its stake in Intapp by 7.8% in the third quarter. FMR LLC now owns 5,658,957 shares of the company’s stock valued at $270,668,000 after acquiring an additional 411,434 shares during the period. Bamco Inc. NY lifted its holdings in shares of Intapp by 1.2% during the 3rd quarter. Bamco Inc. NY now owns 2,850,455 shares of the company’s stock valued at $136,337,000 after purchasing an additional 34,409 shares in the last quarter. Praesidium Investment Management Company LLC grew its position in shares of Intapp by 15.3% in the 3rd quarter. Praesidium Investment Management Company LLC now owns 1,930,095 shares of the company’s stock valued at $92,316,000 after purchasing an additional 256,327 shares during the period. Loomis Sayles & Co. L P increased its stake in Intapp by 29.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,492,620 shares of the company’s stock worth $71,392,000 after purchasing an additional 343,275 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Intapp by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,051,237 shares of the company’s stock worth $50,291,000 after buying an additional 95,035 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Intapp Price Performance

The stock has a market cap of $5.54 billion, a P/E ratio of -247.07 and a beta of 0.73. The stock’s 50 day simple moving average is $65.76 and its two-hundred day simple moving average is $52.49.

Intapp (NASDAQ:INTA) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The business had revenue of $118.81 million for the quarter, compared to analyst estimates of $117.88 million. Intapp had a negative net margin of 4.74% and a negative return on equity of 2.08%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the business posted ($0.20) earnings per share. As a group, analysts forecast that Intapp, Inc. will post -0.14 earnings per share for the current fiscal year.

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.