Citigroup Lowers Intapp (NASDAQ:INTA) Price Target to $52.00

Intapp (NASDAQ:INTA) had its target price decreased by stock analysts at Citigroup from $57.00 to $52.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 65.55% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Truist Financial raised their price objective on shares of Intapp from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Stifel Nicolaus boosted their target price on shares of Intapp from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $52.00 target price on shares of Intapp in a research note on Monday, February 26th. Finally, Barclays cut their price target on shares of Intapp from $47.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intapp has a consensus rating of “Buy” and an average target price of $48.44.

Intapp Stock Performance

Shares of NASDAQ:INTA opened at $31.41 on Tuesday. Intapp has a 52-week low of $30.36 and a 52-week high of $50.46. The company has a market capitalization of $2.29 billion, a P/E ratio of -39.26 and a beta of 0.51. The company has a 50-day simple moving average of $35.03 and a 200 day simple moving average of $37.37.

Intapp (NASDAQ:INTA) last issued its earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The business had revenue of $103.93 million during the quarter, compared to the consensus estimate of $103.17 million. Intapp had a negative net margin of 13.81% and a negative return on equity of 12.98%. As a group, equities analysts forecast that Intapp will post -0.53 earnings per share for the current year.

Insider Activity at Intapp

In related news, CMO Scott Fitzgerald sold 1,363 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $45.00, for a total value of $61,335.00. Following the transaction, the chief marketing officer now owns 29,568 shares in the company, valued at $1,330,560. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, COO Donald F. Coleman sold 5,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $44.11, for a total transaction of $220,550.00. Following the transaction, the chief operating officer now owns 612,011 shares in the company, valued at $26,995,805.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Scott Fitzgerald sold 1,363 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $45.00, for a total transaction of $61,335.00. Following the transaction, the chief marketing officer now owns 29,568 shares in the company, valued at approximately $1,330,560. The disclosure for this sale can be found here. Insiders have sold a total of 7,117,067 shares of company stock worth $258,544,060 over the last quarter. Company insiders own 36.56% of the company’s stock.

Hedge Funds Weigh In On Intapp

Several institutional investors have recently made changes to their positions in INTA. Assetmark Inc. increased its position in shares of Intapp by 164.6% during the fourth quarter. Assetmark Inc. now owns 1,310 shares of the company’s stock worth $50,000 after acquiring an additional 815 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Intapp during the third quarter worth about $52,000. Allspring Global Investments Holdings LLC increased its position in shares of Intapp by 152.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,998 shares of the company’s stock worth $67,000 after acquiring an additional 1,205 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Intapp by 81,400.0% during the third quarter. PNC Financial Services Group Inc. now owns 2,445 shares of the company’s stock worth $82,000 after acquiring an additional 2,442 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of Intapp by 30.5% during the third quarter. Amalgamated Bank now owns 3,033 shares of the company’s stock worth $102,000 after acquiring an additional 708 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.