Intapp price target lowered to $50 from $76 at BofA

BofA analyst Koji Ikeda lowered the firm’s price target on Intapp (INTA) to $50 from $76 and keeps a Buy rating on the shares. Cloud ARR accelerated for a third quarter in a row to 31% year-over-year despite AI disruption fears, notes the analyst, who thinks the investor day later this month could be a catalyst. The firm cites peer multiple compression for its lowered price target