Truist Financial Issues Pessimistic Forecast for Intapp (NASDAQ:INTA) Stock Price

Intapp (NASDAQ:INTA - Get Free Report) had its price objective dropped by analysts at Truist Financial from $80.00 to $68.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's target price would suggest a potential upside of 32.01% from the company's previous close.

A number of other brokerages also recently issued reports on INTA. Stifel Nicolaus boosted their price objective on Intapp from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Citigroup reiterated a "neutral" rating and issued a $78.00 price target (down from $87.00) on shares of Intapp in a report on Thursday, January 16th. Raymond James restated a "market perform" rating on shares of Intapp in a report on Friday, January 3rd. Barclays dropped their price target on Intapp from $68.00 to $60.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $71.00 price objective (up from $60.00) on shares of Intapp in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.91.

Intapp Trading Up 0.5 %

Shares of INTA stock traded up $0.26 during trading hours on Wednesday, reaching $51.51. The company's stock had a trading volume of 494,286 shares, compared to its average volume of 656,109. The stock has a market capitalization of $4.09 billion, a P/E ratio of -177.61 and a beta of 0.82. The firm's fifty day simple moving average is $60.66 and its 200 day simple moving average is $60.88. Intapp has a one year low of $30.36 and a one year high of $77.74.

Intapp (NASDAQ:INTA - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.25). Intapp had a negative return on equity of 1.86% and a negative net margin of 4.78%. As a group, equities research analysts forecast that Intapp will post -0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John T. Hall sold 33,227 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $68.83, for a total transaction of $2,287,014.41. Following the completion of the transaction, the chief executive officer now directly owns 5,258,576 shares of the company's stock, valued at approximately $361,947,786.08. This represents a 0.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David H. Morton, Jr. sold 5,445 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $68.83, for a total value of $374,779.35. Following the transaction, the chief financial officer now directly owns 38,996 shares in the company, valued at $2,684,094.68. This represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,755 shares of company stock valued at $17,088,761. Insiders own 13.02% of the company's stock.

Institutional Investors Weigh In On Intapp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of Intapp by 143.0% in the first quarter. SG Americas Securities LLC now owns 6,017 shares of the company's stock valued at $351,000 after buying an additional 3,541 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Intapp by 74.2% in the 1st quarter. Farther Finance Advisors LLC now owns 526 shares of the company's stock worth $31,000 after buying an additional 224 shares in the last quarter. MRA Advisory Group purchased a new position in shares of Intapp during the 1st quarter worth approximately $523,000. Rhumbline Advisers increased its position in Intapp by 7.2% during the first quarter. Rhumbline Advisers now owns 78,398 shares of the company's stock worth $4,577,000 after buying an additional 5,257 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Intapp by 9,950.6% in the 1st quarter. GAMMA Investing LLC now owns 17,689 shares of the company's stock valued at $10,330,000 after purchasing an additional 17,513 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Intapp Company Profile

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.