Intapp (NASDAQ:INTA) Shares Gap Up to $16.60

Intapp, Inc. (NASDAQ:INTAGet Rating) gapped up prior to trading on Friday . The stock had previously closed at $16.60, but opened at $17.01. Intapp shares last traded at $16.62, with a volume of 773 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on INTA. Raymond James dropped their target price on shares of Intapp from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, September 8th. Oppenheimer dropped their target price on shares of Intapp from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, June 17th. Piper Sandler increased their target price on shares of Intapp from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, September 8th. Finally, Truist Financial dropped their target price on shares of Intapp from $45.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, September 8th.

Intapp Stock Performance

The company’s 50-day simple moving average is $15.45 and its 200-day simple moving average is $18.94.

Intapp (NASDAQ:INTAGet Rating) last issued its quarterly earnings data on Wednesday, September 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.11. The company had revenue of $75.52 million for the quarter, compared to the consensus estimate of $71.51 million. Intapp had a negative net margin of 36.64% and a negative return on equity of 32.57%. During the same period last year, the firm posted ($0.39) EPS. As a group, equities analysts anticipate that Intapp, Inc. will post -1.02 earnings per share for the current fiscal year.

Institutional Trading of Intapp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in shares of Intapp by 19.5% in the second quarter. Legal & General Group Plc now owns 4,403 shares of the company’s stock valued at $65,000 after acquiring an additional 719 shares in the last quarter. Alamar Capital Management LLC boosted its holdings in shares of Intapp by 1.3% in the first quarter. Alamar Capital Management LLC now owns 97,985 shares of the company’s stock valued at $2,353,000 after acquiring an additional 1,220 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Intapp by 1.8% in the fourth quarter. Squarepoint Ops LLC now owns 71,234 shares of the company’s stock valued at $1,792,000 after acquiring an additional 1,234 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Intapp by 23.7% in the first quarter. American International Group Inc. now owns 6,869 shares of the company’s stock valued at $165,000 after acquiring an additional 1,317 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Intapp by 1.7% in the second quarter. Northern Trust Corp now owns 121,683 shares of the company’s stock valued at $1,782,000 after acquiring an additional 2,080 shares in the last quarter. Hedge funds and other 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. 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; and OnePlace, a solution to manage various aspects of professional services firms' client and engagement lifecycle.

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