Intapp (NASDAQ:INTA) Shares Gap Down - What's Next?

Intapp, Inc. (NASDAQ:INTA - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $44.27, but opened at $42.17. Intapp shares last traded at $43.63, with a volume of 123,213 shares trading hands.

Analysts Set New Price Targets

Several brokerages have issued reports on INTA. UBS Group dropped their target price on Intapp from $92.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Stifel Nicolaus lowered their price target on Intapp from $65.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. Piper Sandler upgraded Intapp to a "neutral" rating and set a $55.00 price target for the company in a report on Tuesday, June 24th. Truist Financial lowered their target price on Intapp from $80.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Citigroup lowered their target price on Intapp from $66.00 to $53.00 and set a "neutral" rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.11.

Intapp Stock Performance

The company has a market cap of $3.52 billion, a price-to-earnings ratio of -181.21, a price-to-earnings-growth ratio of 7.91 and a beta of 0.76. The business has a 50-day simple moving average of $52.96 and a 200-day simple moving average of $59.04.

Intapp (NASDAQ:INTA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. The company had revenue of $129.07 million for the quarter, compared to analyst estimates of $128.84 million. Intapp had a negative return on equity of 1.19% and a negative net margin of 3.78%. Intapp's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. Research analysts anticipate that Intapp, Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling at Intapp

In other news, insider Thad Jampol sold 5,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $56.65, for a total transaction of $283,250.00. Following the sale, the insider owned 857,250 shares of the company's stock, valued at approximately $48,563,212.50. This trade represents a 0.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Benjamin Harrison sold 14,275 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.01, for a total value of $785,267.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,913 shares of company stock worth $4,257,984. 13.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Intapp by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 6,652,139 shares of the company's stock worth $388,352,000 after buying an additional 283,923 shares during the last quarter. Invesco Ltd. grew its stake in shares of Intapp by 6.1% in the 1st quarter. Invesco Ltd. now owns 2,100,618 shares of the company's stock valued at $122,634,000 after purchasing an additional 120,112 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Intapp by 7.7% in the 1st quarter. Alliancebernstein L.P. now owns 1,782,521 shares of the company's stock valued at $104,064,000 after purchasing an additional 127,655 shares during the last quarter. Capital World Investors grew its stake in shares of Intapp by 30.3% in the 4th quarter. Capital World Investors now owns 1,701,939 shares of the company's stock valued at $109,077,000 after purchasing an additional 395,804 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Intapp by 0.9% in the 1st quarter. Jennison Associates LLC now owns 1,550,010 shares of the company's stock valued at $90,490,000 after purchasing an additional 13,577 shares during the last quarter. Hedge funds and other 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.