Citi opens ‘positive catalyst watch’ on Intapp into analyst day

Citi opened a “90-day positive catalyst watch” on shares of Intapp. The firm initiated coverage of the name this morning with a Buy rating and $57 price target. The analyst sees Intapp’s analyst day on February 22 as a potential catalyst for the shares by bringing more focus to the opportunity and clarifying the medium- and long-term model framework. This could include an update on the market opportunity and penetration rate across Intapp’s core industries, a path to $1B in revenue, and an updated margin outlook, the analyst tells investors in a research note.