J.P. Morgan cuts PT on Intapp as software firms reel under macro pressures

Intapp

23/06/2022 14:20

** J.P. Morgan cuts target price on cloud-based software
services co Intapp Inc  INTA.O  to $35 from $42
    ** Brokerage says new PT reflects compression in the
software sector, which has been hit by souring sentiment as the
Federal Reserve hikes interest rates
    ** JPM also lowers estimates for 10-year free cash flow
after INTA's Q3 earnings, where it reported bigger losses due to
stock compensation expenses 
    ** Brokerage maintains "overweight" rating, says INTA's
customer engagement and dealmaking tech apps could potentially
attract more financial services clients  
    ** As of last close, INTA stock had lost 43% YTD

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))