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

Intapp, Inc. (NASDAQ:INTA) shares traded up 6% 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. 98,397 shares were traded during mid-day trading, a decline of 83% from the average session volume of 569,484 shares. The stock had previously closed at $67.62.

A number of other analysts have also weighed in on the stock. Raymond James reaffirmed a “market perform” rating on shares of Intapp in a report on Friday, January 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price objective (up previously from $46.00) on shares of Intapp in a research note on Tuesday, November 5th. Truist Financial increased their price target on shares of Intapp from $55.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Barclays increased their price target on shares of Intapp from $44.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Citigroup restated a “neutral” rating and issued a $78.00 price objective (down from $87.00) on shares of Intapp in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Intapp presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.36.

Insider Transactions at Intapp

In other Intapp news, CMO Scott Fitzgerald sold 5,221 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $59.30, for a total transaction of $309,605.30. Following the transaction, the chief marketing officer now owns 46,552 shares of the company’s stock, valued at approximately $2,760,533.60. The trade was a 10.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thad Jampol sold 20,000 shares of Intapp stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $61.85, for a total value of $1,237,000.00. Following the completion of the sale, the insider now owns 828,197 shares in the company, valued at $51,223,984.45. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 402,624 shares of company stock valued at $24,954,154. 13.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its stake in shares of Intapp by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 24,815 shares of the company’s stock worth $1,187,000 after buying an additional 264 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Intapp by 7.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,539 shares of the company’s stock valued at $265,000 after buying an additional 373 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Intapp during the 4th quarter valued at $25,000. Advisors Asset Management Inc. boosted its holdings in shares of Intapp by 59.1% during the third quarter. Advisors Asset Management Inc. now owns 1,397 shares of the company’s stock worth $67,000 after purchasing an additional 519 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Intapp by 1,054.0% during the third quarter. Farther Finance Advisors LLC now owns 577 shares of the company’s stock worth $28,000 after purchasing an additional 527 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Intapp Stock Up 5.8 %

The firm has a market cap of $5.54 billion, a price-to-earnings ratio of -246.77 and a beta of 0.73. The firm has a fifty day moving average price of $65.20 and a 200-day moving average price of $52.09.

Intapp (NASDAQ:INTA) last released its quarterly earnings data on Monday, November 4th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.13 by $0.08. Intapp had a negative return on equity of 2.08% and a negative net margin of 4.74%. The company had revenue of $118.81 million for the quarter, compared to analyst estimates of $117.88 million. During the same period last year, the company posted ($0.20) earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. Equities research analysts anticipate 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.