Barclays Forecasts Strong Price Appreciation for Intapp (NASDAQ:INTA) Stock

Intapp (NASDAQ:INTA - Free Report) had its target price increased by Barclays from $63.00 to $68.00 in a research note released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also issued reports on INTA. Stifel Nicolaus upped their target price on shares of Intapp from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their target price on Intapp from $58.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Piper Sandler restated an "overweight" rating and set a $71.00 price objective (up from $60.00) on shares of Intapp in a research report on Tuesday. Raymond James reissued a "market perform" rating on shares of Intapp in a research note on Friday, January 3rd. Finally, Truist Financial increased their price target on Intapp from $55.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.45.

Intapp Stock Performance

Shares of NASDAQ:INTA traded down $1.55 during midday trading on Wednesday, reaching $71.07. 1,219,496 shares of the company's stock traded hands, compared to its average volume of 776,766. The company has a market cap of $5.50 billion, a P/E ratio of -245.07 and a beta of 0.74. The company has a fifty day simple moving average of $66.96 and a two-hundred day simple moving average of $53.76. Intapp has a 1 year low of $30.36 and a 1 year high of $75.90.

Intapp (NASDAQ:INTA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.25). Intapp had a negative net margin of 4.74% and a negative return on equity of 2.08%. As a group, research analysts forecast that Intapp will post -0.14 EPS for the current fiscal year.

Insider Activity at Intapp

In related news, Director Ralph Baxter sold 9,289 shares of Intapp stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $70.14, for a total value of $651,530.46. Following the completion of the transaction, the director now directly owns 9,441 shares in the company, valued at approximately $662,191.74. This trade represents a 49.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John T. Hall sold 44,009 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $59.30, for a total value of $2,609,733.70. Following the sale, the chief executive officer now owns 5,093,692 shares in the company, valued at approximately $302,055,935.60. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 316,846 shares of company stock worth $20,158,913 in the last three months. 13.02% of the stock is owned by company insiders.

Institutional Trading of Intapp

Large investors have recently made changes to their positions in the company. Luxor Capital Group LP acquired a new position in Intapp during the 3rd quarter worth approximately $47,837,000. FMR LLC lifted its position in shares of Intapp by 7.8% during the 3rd quarter. FMR LLC now owns 5,658,957 shares of the company's stock worth $270,668,000 after purchasing an additional 411,434 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Intapp by 29.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,492,620 shares of the company's stock worth $71,392,000 after purchasing an additional 343,275 shares in the last quarter. Praesidium Investment Management Company LLC increased its holdings in Intapp by 15.3% in the third quarter. Praesidium Investment Management Company LLC now owns 1,930,095 shares of the company's stock valued at $92,316,000 after buying an additional 256,327 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Intapp in the fourth quarter valued at $12,870,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.