Intapp (NASDAQ:INTA) Updates FY 2023 Earnings Guidance

Intapp (NASDAQ:INTAGet Rating) issued an update on its FY 2023 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -$0.07–$0.03 for the period, compared to the consensus estimate of -$0.09. The company issued revenue guidance of $332.00 million-$336.00 million, compared to the consensus revenue estimate of $326.60 million. Intapp also updated its Q2 2023 guidance to -$0.04–$0.02 EPS.

Intapp Price Performance

Intapp stock opened at $21.83 on Tuesday. Intapp has a one year low of $13.52 and a one year high of $29.29. The business’s fifty day moving average is $19.94 and its 200 day moving average is $17.84. The stock has a market capitalization of $1.38 billion, a PE ratio of -14.18 and a beta of 0.75.

Intapp (NASDAQ:INTAGet Rating) last announced its quarterly earnings results on Wednesday, September 7th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.11. The firm had revenue of $75.52 million during the quarter, compared to analyst estimates of $71.51 million. Intapp had a negative net margin of 32.69% and a negative return on equity of 30.50%. During the same period in the previous year, the business posted ($0.39) earnings per share. As a group, sell-side analysts expect that Intapp will post -1.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INTA has been the topic of several research analyst reports. Credit Suisse Group increased their price target on Intapp from $22.00 to $27.00 and gave the company an outperform rating in a report on Tuesday, November 8th. Piper Sandler raised their target price on Intapp from $19.00 to $26.00 and gave the stock an overweight rating in a research report on Tuesday, November 8th. Raymond James upped their price target on shares of Intapp from $20.00 to $25.00 and gave the company an outperform rating in a research report on Tuesday, November 8th. Finally, Truist Financial dropped their price objective on shares of Intapp from $45.00 to $28.00 and set a buy rating on the stock in a report on Thursday, September 8th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Intapp currently has a consensus rating of Buy and an average price target of $28.50.

Insiders Place Their Bets

In other news, insider Michele Murgel sold 4,025 shares of Intapp stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $20.06, for a total transaction of $80,741.50. Following the transaction, the insider now directly owns 76,952 shares of the company’s stock, valued at approximately $1,543,657.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Michele Murgel sold 4,025 shares of the stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $20.06, for a total value of $80,741.50. Following the completion of the sale, the insider now directly owns 76,952 shares of the company’s stock, valued at $1,543,657.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thad Jampol sold 2,500 shares of Intapp stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $22.47, for a total transaction of $56,175.00. Following the transaction, the insider now owns 506,274 shares in the company, valued at approximately $11,375,976.78. The disclosure for this sale can be found here. Insiders sold a total of 69,836 shares of company stock worth $1,493,608 over the last quarter. 48.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intapp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank increased its holdings in Intapp by 7.8% in the 1st quarter. Swiss National Bank now owns 28,900 shares of the company’s stock valued at $694,000 after acquiring an additional 2,100 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Intapp by 44.6% during the first quarter. JPMorgan Chase & Co. now owns 9,705 shares of the company’s stock valued at $233,000 after purchasing an additional 2,992 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Intapp by 24.5% in the first quarter. Bank of New York Mellon Corp now owns 52,259 shares of the company’s stock worth $1,254,000 after purchasing an additional 10,270 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Intapp by 57.0% in the first quarter. MetLife Investment Management LLC now owns 6,665 shares of the company’s stock worth $160,000 after buying an additional 2,420 shares in the last quarter. Finally, Rhumbline Advisers bought a new position in Intapp during the first quarter valued at approximately $291,000. Institutional investors own 82.27% of the company’s stock.

About Intapp

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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. The company's 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; and OnePlace, a solution to manage various aspects of professional services firms' client and engagement lifecycle.

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Earnings History and Estimates for Intapp (NASDAQ:INTA)

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