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Tuesday, Intapp , Inc (NASDAQ:INTA) received a reiterated Buy rating from BofA Securities, with a consistent price target of $76.00. The firm’s analyst highlighted an opportunity for investors following a 15% decline in Intapp’s share value since the company announced its second-quarter fiscal year 2025 results on February 4. Despite the recent dip, the stock has delivered an impressive 67.89% return over the past year, according to InvestingPro data. The analyst expressed increased confidence in Intapp’s long-term strategy to capitalize on its professional and financial services markets after attending Amplify, the company’s recent product event. InvestingPro subscribers can access 12 additional key insights about Intapp’s performance and valuation metrics.
At Amplify, Intapp announced the general availability of DealCloud Activator, a new AI-enabled product, among several platform enhancements. These developments are expected to strengthen Intapp’s product offerings. BofA Securities believes that Intapp’s appealing value proposition and enterprise-focused approach will allow the company to achieve a Cloud Annual Recurring Revenue (ARR) growth rate of over 25%, which surpasses the 11% average of its vertical software peers. The company has already demonstrated strong growth momentum, with revenue increasing 18.58% in the last twelve months.
Intapp’s focus on the professional and financial services sectors is seen as a key driver for its growth. The company’s ability to deliver innovative products like DealCloud Activator is anticipated to contribute to its competitive edge in the market. The analyst’s maintained price target of $76 aligns with the broader Wall Street consensus, with analyst targets ranging from $68 to $92, suggesting potential upside from current levels. However, InvestingPro’s Fair Value analysis indicates the stock may be currently overvalued.
The analyst’s remarks underscore the potential Intapp has in delivering substantial Cloud ARR growth, leveraging its specialized software solutions. With the Buy rating reaffirmed, BofA Securities signals its belief that Intapp’s stock is positioned well for future gains, despite the recent dip following its F2Q25 financial report.
The endorsement from BofA Securities comes as Intapp continues to expand its product suite and solidify its presence in its targeted markets. Investors are encouraged to consider the company’s strategic initiatives and market position as reflected in the analyst’s maintained Buy rating and price target.
In other recent news, Intapp Inc. reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.21, compared to the forecasted $0.16. The company also reported revenue of $121.2 million, slightly above the expected $121.16 million. Despite these positive earnings results, Intapp’s stock experienced a notable decline in after-hours trading. The company highlighted a 17% year-over-year increase in total revenue, with SaaS revenue growing by 27%, reflecting strong demand for its cloud-based solutions. Intapp also reported a non-GAAP gross margin of 76.7%, an increase from the previous year’s 73.4%, and free cash flow of $25.2 million, representing 21% of total revenue. For the upcoming fiscal year, Intapp anticipates SaaS revenue growth of 27-28% and total revenue between $498.5 million and $502.5 million. The company continues to benefit from its strategic partnerships, including a significant collaboration with Microsoft (NASDAQ:MSFT). Additionally, Intapp’s cloud annual recurring revenue (ARR) grew by 29%, underscoring its successful transition to cloud services.
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