Citigroup Cuts Intapp (NASDAQ:INTA) Price Target to $50.00

Intapp (NASDAQ:INTA) had its target price lowered by Citigroup from $52.00 to $50.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on INTA. Oppenheimer reduced their price target on shares of Intapp from $50.00 to $42.00 and set an outperform rating for the company in a research note on Thursday, May 2nd. BTIG Research dropped their price target on shares of Intapp from $55.00 to $50.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Stifel Nicolaus reduced their price objective on shares of Intapp from $47.00 to $45.00 and set a buy rating for the company in a research report on Wednesday, April 24th. Barclays dropped their target price 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. Finally, Piper Sandler decreased their target price on Intapp from $52.00 to $46.00 and set an overweight rating on the stock in a report on Friday, May 10th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of $45.88.

Intapp Price Performance

Shares of INTA opened at $36.67 on Friday. The company has a market cap of $2.69 billion, a P/E ratio of -60.11 and a beta of 0.61. Intapp has a 12 month low of $30.36 and a 12 month high of $45.43. The stock has a fifty day moving average price of $34.70 and a 200 day moving average price of $36.80.

Intapp (NASDAQ:INTA) last posted its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.10. The firm had revenue of $110.64 million during the quarter, compared to analysts’ expectations of $108.18 million. Intapp had a negative net margin of 10.44% and a negative return on equity of 9.08%. As a group, research analysts anticipate that Intapp will post -0.37 earnings per share for the current year.

Insider Activity

In other Intapp news, COO Donald F. Coleman sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $35.37, for a total value of $176,850.00. Following the completion of the sale, the chief operating officer now owns 648,411 shares of the company’s stock, valued at $22,934,297.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director George R. Neble sold 1,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $31.38, for a total transaction of $47,070.00. Following the transaction, the director now owns 29,047 shares of the company’s stock, valued at $911,494.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Donald F. Coleman sold 5,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $35.37, for a total transaction of $176,850.00. Following the transaction, the chief operating officer now owns 648,411 shares of the company’s stock, valued at $22,934,297.07. The disclosure for this sale can be found here. Insiders sold a total of 55,724 shares of company stock worth $1,923,651 in the last three months. 36.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Intapp

Several hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its position in shares of Intapp by 239.1% during the first quarter. Advisors Asset Management Inc. now owns 824 shares of the company’s stock valued at $28,000 after purchasing an additional 581 shares during the period. Comerica Bank boosted its position in shares of Intapp by 218.4% during the 1st quarter. Comerica Bank now owns 1,261 shares of the company’s stock valued at $43,000 after acquiring an additional 865 shares in the last quarter. Assetmark Inc. increased its stake in Intapp by 164.6% in the fourth quarter. Assetmark Inc. now owns 1,310 shares of the company’s stock valued at $50,000 after acquiring an additional 815 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Intapp by 81,400.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,445 shares of the company’s stock worth $82,000 after buying an additional 2,442 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Intapp by 52.0% during the 1st quarter. Covestor Ltd now owns 2,395 shares of the company’s stock worth $82,000 after buying an additional 819 shares during the period. Institutional investors 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.