Analyst Koji Ikeda of Bank of America Securities reiterated a Buy rating on Intapp, reducing the price target to $75.00.
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Koji Ikeda has given his Buy rating due to a combination of factors that highlight Intapp’s potential for growth and resilience in challenging market conditions. One of the key reasons is Intapp’s strong position in its target verticals, professional services and financial services, which are expected to drive substantial SaaS revenue growth with expanding margins over the long term. Despite a challenging macroeconomic environment, Intapp is well-managed and continues to gain market share, which supports a positive outlook for its financial performance.
Additionally, Ikeda emphasizes the importance of Intapp’s SaaS ARR and SaaS revenue as critical metrics, with expectations of significant year-over-year growth. The company’s end-markets have shown resilience, and its AI strategy, now in its second year, is progressing well. These factors, combined with a focus on expanding operating margins and achieving long-term free cash flow margin targets, contribute to Ikeda’s confidence in Intapp’s ability to deliver strong financial results, justifying the Buy rating.