Steve Enders, an analyst from Citi, maintained the Buy rating on Intapp (INTA – Research Report). The associated price target remains the same with $52.00.
Steve Enders has given his Buy rating due to a combination of factors including the company’s solid financial performance and favorable future outlook. Intapp’s recent third-quarter results showcased a robust increase in annual recurring revenue (ARR) and bookings, both of which have re-accelerated. Moreover, the company reported an EBIT beat—its best in two years—which led to a raise in fourth-quarter forecasts exceeding consensus expectations. The strong performance in large customer activity, stabilizing Cloud ARR growth, and the early but promising developments in AI initiatives are key elements underpinning Enders’ positive stance on the company’s stock.
Furthermore, Enders believes that Intapp is currently undervalued, trading at a compelling multiple when considering the FY26 enterprise value to free cash flow estimates in relation to growth. The improved productivity and margin levers, combined with new market channels that are still in the expansion phase, and an ongoing transition to cloud services, all contribute to the stock’s attractiveness. Adjustments in the estimates for fiscal years ’24 and ’25 also reflect a bullish sentiment, with revenue projections increased. Despite some concerns over a marginal SaaS revenue beat and a billings miss, the overall positive trends, such as a re-acceleration in SaaS growth and consistent margin improvements, suggest strong potential for the stock, justifying a Buy rating with a high-risk categorization.
In another report released today, Barclays also maintained a Buy rating on the stock with a $42.00 price target.
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Intapp (INTA) Company Description:
Intapp Inc is a provider of industry-specific, cloud-based software solutions for the professional and financial services industry. It empowers private capital, investment banking, legal, accounting, and consulting firms with the technology they need to meet rapidly changing client, investor, and regulatory requirements.
