Intapp (NASDAQ:INTA) Shares Gap Up on Earnings Beat

Key Points

• Intapp's share price surged from $36.92 to $44.38 after reporting better-than-expected earnings, with an EPS of $0.27, exceeding the consensus estimate of $0.23.
• The company has initiated a $150 million stock buyback plan, indicating confidence from leadership in the company's stock value.
• Analysts have varied opinions on Intapp's valuation, with price targets ranging from $53 to $68, reflecting a consensus rating of "Moderate Buy".

Intapp, Inc. (NASDAQ:INTA - Get Free Report)'s share price gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $36.92, but opened at $44.38. Intapp shares last traded at $40.61, with a volume of 1,457,522 shares.

The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. The company had revenue of $135.04 million for the quarter, compared to the consensus estimate of $132.07 million. Intapp had a negative return on equity of 1.19% and a negative net margin of 3.78%. Intapp's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share.

Intapp announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 12th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on INTA shares. Truist Financial dropped their target price on Intapp from $80.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen lowered Intapp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. UBS Group restated a "buy" rating on shares of Intapp in a research note on Wednesday. Citigroup dropped their price target on Intapp from $66.00 to $53.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Finally, Stifel Nicolaus dropped their price target on Intapp from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.44.

Insider Buying and Selling

In related news, CEO John T. Hall sold 8,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $55.28, for a total value of $442,240.00. Following the completion of the transaction, the chief executive officer owned 5,445,335 shares of the company's stock, valued at approximately $301,018,118.80. This represents a 0.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David Benjamin Harrison sold 14,275 shares of the stock in a transaction dated Friday, May 23rd. The shares were 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. Insiders have sold a total of 71,913 shares of company stock worth $3,974,734 in the last ninety days. 13.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. REAP Financial Group LLC raised its position in shares of Intapp by 218.5% during the 2nd quarter. REAP Financial Group LLC now owns 481 shares of the company's stock worth $25,000 after purchasing an additional 330 shares during the period. Farther Finance Advisors LLC raised its position in shares of Intapp by 74.2% during the 1st quarter. Farther Finance Advisors LLC now owns 526 shares of the company's stock worth $31,000 after purchasing an additional 224 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Intapp during the 2nd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd increased its position in Intapp by 356.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 643 shares of the company's stock valued at $33,000 after acquiring an additional 502 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Intapp in the 1st quarter valued at approximately $36,000. Institutional investors own 89.96% of the company's stock.

Intapp Trading Up 9.7%

The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -169.19, a PEG ratio of 7.53 and a beta of 0.73. The firm has a 50-day moving average of $47.06 and a 200 day moving average of $55.60.

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.

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