Intapp price target lowered to $33 from $42 at Piper Sandler

Piper Sandler lowered the firm’s price target on Intapp (INTA) to $33 from $42 and keeps a Neutral rating on the shares. The firm notes shares were down about 20% after hours despite the earnings beat. Intapp reported a number of positives in Q2 including, but Piper suspects the negative reaction in the stock reflects continued pressure on software stocks following Anthropic’s legal tool release and 2026 non-GAAP operating income guidance increasing by less than the Q2 beat, resulting in an 11% reduction to its Q3 estimate.