Intapp (NASDAQ:INTA) Shares Gap Down – What’s Next?

Intapp, Inc. (NASDAQ:INTA) shares gapped down before the market opened on Thursday . The stock had previously closed at $66.98, but opened at $65.57. Intapp shares last traded at $66.66, with a volume of 71,254 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INTA. Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price objective (up previously from $46.00) on shares of Intapp in a research note on Tuesday, November 5th. Raymond James reiterated a “market perform” rating on shares of Intapp in a research note on Friday, January 3rd. Truist Financial raised their price objective on shares of Intapp from $55.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Citigroup reaffirmed a “neutral” rating and set a $78.00 target price (down previously from $87.00) on shares of Intapp in a research note on Thursday. Finally, Stifel Nicolaus lifted 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. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Intapp presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.82.

Intapp Price Performance

The company’s 50-day simple moving average is $63.36 and its 200 day simple moving average is $50.02. The firm has a market cap of $5.13 billion, a P/E ratio of -228.45 and a beta of 0.73.

Intapp (NASDAQ:INTA) last released its quarterly earnings data on Monday, November 4th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.13 by $0.08. Intapp had a negative net margin of 4.74% and a negative return on equity of 2.08%. The business had revenue of $118.81 million during the quarter, compared to analyst estimates of $117.88 million. During the same quarter last year, the business earned ($0.20) earnings per share. Intapp’s quarterly revenue was up 17.0% compared to the same quarter last year. Analysts anticipate that Intapp, Inc. will post -0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ralph Baxter sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $57.10, for a total value of $2,855,000.00. Following the sale, the director now directly owns 5,624 shares in the company, valued at approximately $321,130.40. This trade represents a 89.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Donald F. Coleman sold 35,778 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $54.23, for a total transaction of $1,940,240.94. Following the completion of the sale, the chief operating officer now owns 668,239 shares in the company, valued at $36,238,600.97. This represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 402,624 shares of company stock worth $24,954,154 in the last three months. Corporate insiders own 13.02% of the company’s stock.

Institutional Trading of Intapp

A number of institutional investors have recently modified their holdings of INTA. Farther Finance Advisors LLC boosted its stake in Intapp by 1,054.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 577 shares of the company’s stock worth $28,000 after purchasing an additional 527 shares in the last quarter. Quest Partners LLC acquired a new stake in Intapp in the 3rd quarter worth approximately $54,000. Financial Management Professionals Inc. acquired a new stake in Intapp in the 3rd quarter worth approximately $57,000. Wilmington Savings Fund Society FSB acquired a new stake in Intapp in the 3rd quarter worth approximately $64,000. Finally, Advisors Asset Management Inc. raised its position in Intapp by 59.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,397 shares of the company’s stock worth $67,000 after buying an additional 519 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

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.