Intapp (NASDAQ:INTA) Hits New 52-Week High Following Analyst Upgrade

Intapp, Inc. (NASDAQ:INTA) hit a new 52-week high during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $89.00 to $92.00. UBS Group currently has a buy rating on the stock. Intapp traded as high as $75.90 and last traded at $74.19, with a volume of 261299 shares trading hands. The stock had previously closed at $70.52.

A number of other analysts have also weighed in on INTA. Truist Financial upped their target price on Intapp from $55.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Stifel Nicolaus upped their target price on Intapp from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. increased their price objective on Intapp from $58.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Citigroup reiterated a “neutral” rating and set a $78.00 price objective (down previously from $87.00) on shares of Intapp in a report on Thursday, January 16th. Finally, Barclays increased their price objective on Intapp from $44.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.64.

Insider Activity at Intapp

In other Intapp news, insider David Benjamin Harrison sold 22,373 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $68.87, for a total value of $1,540,828.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ralph Baxter sold 9,289 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $70.14, for a total transaction of $651,530.46. Following the completion of the transaction, the director now owns 9,441 shares of the company’s stock, valued at approximately $662,191.74. This trade represents a 49.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 402,624 shares of company stock valued at $24,954,154 in the last ninety days. Company insiders own 13.02% of the company’s stock.

Institutional Investors Weigh In On Intapp

A number of institutional investors and hedge funds have recently bought and sold shares of INTA. FMR LLC lifted its holdings in shares of 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 purchasing an additional 411,434 shares in the last quarter. Bamco Inc. NY grew its holdings in 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 holdings in Intapp by 15.3% during 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 in the last quarter. Loomis Sayles & Co. L P grew its holdings 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 acquiring an additional 343,275 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 acquiring an additional 95,035 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Intapp Trading Up 4.0 %

The stock’s 50-day moving average price is $66.46 and its 200-day moving average price is $53.36. The company has a market capitalization of $5.68 billion, a P/E ratio of -252.12 and a beta of 0.74.

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