Piper Sandler Upgrades Intapp (NASDAQ:INTA) to “Neutral”

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.com reports. The brokerage presently has a $55.00 price objective on the stock. Piper Sandler’s price objective would suggest a potential upside of 10.00% from the company’s current price.

INTA has been the topic of a number of other research reports. Citigroup reissued a “neutral” rating on shares of Intapp in a report on Monday, April 21st. UBS Group reduced their price target on shares of Intapp from $92.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen cut shares of Intapp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 21st. Stifel Nicolaus reduced their price target on shares of Intapp from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Finally, Truist Financial reduced their price target on shares of Intapp from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.22.

Intapp Stock Performance

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 firm’s fifty day moving average is $54.90 and its 200 day moving average is $61.06. The firm has a market cap of $4.05 billion, a P/E ratio of -208.33 and a beta of 0.81.

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

Insider Transactions at Intapp

In related news, CFO David H. Morton, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.02, for a total transaction of $550,200.00. Following the transaction, the chief financial officer now owns 32,739 shares in the company, valued at $1,801,299.78. This represents a 23.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Benjamin Harrison sold 14,275 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.01, for a total transaction of $785,267.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,841 shares of company stock worth $10,951,226. Corporate insiders own 13.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INTA. Global Retirement Partners LLC purchased a new stake in Intapp during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC increased its stake in shares of Intapp by 74.2% in the first quarter. Farther Finance Advisors LLC now owns 526 shares of the company’s stock worth $31,000 after purchasing an additional 224 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Intapp in the fourth quarter worth $32,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Intapp in the first quarter worth $36,000. Finally, Quarry LP boosted 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 acquiring an additional 647 shares during the last quarter. Institutional investors 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.