UPDATE: BofA Securities Starts Intapp, Inc (INTA) at Buy
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BofA Securities initiates coverage on Intapp, Inc (NASDAQ: INTA) with a Buy rating and a price target of $36.00. INTA is a software vendor that sells applications designed for the professional /financial services verticals, a business in an underpenetrated $9.0bn market.
The analyst stated "We believe that Intapp has a strong competitive Moat from: 1) purpose built platform for its verticals, 2) the breadth of its product portfolio, 3) high customer satisfaction levels, evident in its 50+ NPS scores, 4) a large and referenceable 1,600+ customer base, which presents a good opportunity to cross-sell, upsell, and expand, and 5) a low-code integration platform, pre-built with connectors that enables faster digital transformation. We think Management is strong, and is viewed as visionary with leadership positioning within its core verticals, and has the potential to build a reputation as good operators as a public company. From a Margin perspective, growth investments will likely drive negative profitability NT. But, from a LT perspective, management believes the business has the potential to display OpM of 25-30%."
Shares of Intapp, Inc closed at $31.86 yesterday.
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