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Investing.com - Stifel has reduced its price target on Intapp , Inc (NASDAQ:INTA) to $60.00 from $65.00 while maintaining a Buy rating on the stock ahead of the company’s fourth-quarter results. The company, which has demonstrated solid revenue growth of 17.7% over the last twelve months and maintains a healthy current ratio of 1.46, will report earnings on September 3.
The adjustment reflects Stifel’s revised estimates for lower on-premise license revenue in fiscal year 2026 and beyond, though the firm’s SaaS/Cloud estimates for FY26 remain unchanged.
Stifel believes its updated license estimates better reflect Intapp’s cloud migration progress and the expected reduction in multi-year on-premise license contracts going forward.
The firm noted that Intapp shares have underperformed the iShares Expanded Tech-Software Sector ETF (IGV) by approximately 36 percentage points year-to-date, which it believes discounts the company’s durable growth potential.
Despite the price target reduction, Stifel expressed confidence in Intapp’s long-term market positioning and the potential for artificial intelligence to drive expansion, while also citing improving margins expected from continued cloud migration in coming years.
In other recent news, Intapp reported strong financial results for Q1 2025, with total revenue reaching $129.1 million, marking a 17% year-over-year increase. The company’s non-GAAP diluted earnings per share exceeded expectations, coming in at $0.26 against a forecast of $0.2193. This performance was driven by a 28% rise in SaaS revenue, reflecting strong demand for cloud services. Intapp has also formed strategic collaborations, including a partnership with MSCI to integrate private asset data into its DealCloud platform, enhancing decision-making for private market professionals. Additionally, Intapp announced a strategic collaboration with Snowflake (NYSE:SNOW) to improve deal management analytics for advisory, capital markets, and legal firms. In analyst news, Citi raised Intapp’s stock price target to $66 from $62, maintaining a Neutral rating. This adjustment was made following Intapp’s earnings report, which showed mixed results with strong annual recurring revenue growth but a modest beat on top-line revenue and a miss in billings. The company remains focused on leveraging AI product cycles to enhance cross-selling opportunities and support cloud migrations.
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