Intapp price target lowered to $48 from $54 at Oppenheimer

Oppenheimer lowered the firm’s price target on Intapp to $48 from $54 on group multiples compression, while keeping an Outperform rating on the shares. The firm notes Intapp’s Q4 displays strong Cloud ARR growth and large customer deal activity offset by the smallest revenues beat magnitudes since IPO as the business momentum decelerated after a long period of acceleration. While results showed less upside this quarter, Oppenheimer remains impressed that management has time and again demonstrated its ability to execute.