Oppenheimer Downgrades Intapp, Inc (INTA) to Perform

Oppenheimer analyst Brian Schwartz downgraded Intapp, Inc (NASDAQ: INTA) from Outperform to Perform.

The analyst comments: "We lower our rating on INTA to Perform from Outperform and remove our $42 target. Intapp is an industry leader, but we are increasingly concerned about: 1) The efficacy of AI and cyclical challenges in the category leading to slower hiring for sales and account management roles, and spending growth for purpose-built relationship management solutions; 2) strengthening competition from Salesforce, Oracle, and others offering similar services; 3) a less defensible moat in the AI era; and 4) a well-understood story and lack of near-term perceived catalysts. In our view, these headwinds will result in a growth slowdown and less predictable and inefficient business model for Intapp (i.e., sub Rule-of-40 profile) for the foreseeable future compared to its SMiD-Cap peers, and weigh on valuation multiples."

For an analyst ratings summary and ratings history on Intapp, Inc click here. For more ratings news on Intapp, Inc click here.

Shares of Intapp, Inc closed at $36.32 yesterday.

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