Intapp rises on upbeat revenue forecast

Intapp

08/09/2022 14:38

** Shares of IT service provider Intapp Inc  INTA.O  up 8.8%
at $15.99 
    ** INTA forecasts FY23 rev of $324.5 mln-$328.5 mln vs.
Refinitiv ests of $317.7 mln
    ** Reports Q4 rev also above estimates, driven by 34% rise
in SaaS and support sales  urn:newsml:reuters.com:*:nGNX4SB0Nr
    ** Piper Sandler, which raises PT to $19 from $17, says with
continued cloud migration, it expects co's healthy growth to
sustain
    ** BofA Global Research says INTA is a very well run
business; but lowers PT to $24 from $28 given pullback in
software segment
    ** Avg. rating of 8 analysts is "buy"; median PT is $25 -
Refinitiv data
    ** As of last close, stock fell ~42% this year

    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))