Intapp's stock is experiencing a decline following the company's announcement of its second-quarter revenue, which met the average analyst estimate. While the company reported a better total annual recurring revenue and improved conversion activity of on-premise customers, Barclays noted that the results might not meet the expectations of some on Wall Street. The firm's analyst, Saket Kalia, raised the price target for Intapp to $68 from $63, maintaining an Equal Weight rating on the shares. Despite the positive adjustments in the company's fiscal year 2025 EPS view and a reported Q2 EPS of 21 cents, which surpassed the consensus of 16 cents, the market's reaction suggests a level of disappointment with the revenue figures.
The company's performance in the professional and financial services industry, through its cloud-based software solutions, continues to show promise. Intapp's strategic focus on enhancing its product offerings and increasing its customer base is evident in its raised fiscal year 2025 EPS view to 83-87 cents, up from the previous 73-77 cents, with a consensus of 75 cents. However, the alignment of revenue with analyst expectations appears to have tempered investor enthusiasm, contributing to the stock's downward movement.
Intapp (INTA) shares are currently trading at $68.97, down 6.18% from the previous close of $73.51 on February 4th.