Intapp price target lowered to $48 from $52 at BofA

BofA lowered the firm’s price target on Intapp to $48 from $52 and keeps a Buy rating on the shares. Intapp delivered a good finish to its FY24 with total revenue and non-GAAP operating income above Street estimates, while initial FY25 revenue guidance is comparable to Street estimates, the analyst tells investors in a research note. The results support BofA’s long-term view that Intapp is a share gainer in a lightly penetrated $9B professional and financial services vertical software total addressable market.