Intapp price target raised to $35 from $30 at Oppenheimer

Oppenheimer analyst Brian Schwartz raised the firm’s price target on Intapp to $35 from $30 and keeps an Outperform rating on the shares. The firm notes Intapp delivered strong Q2 results and raised guidance for both revenues and operating profit that was above its and the Street’s expectations. Overall, Q2 results and higher guidance lend good support to Intapp as Oppenheimer’s top 2023 verticals pick. The firm sees good counter-cyclical demand among Intapp’s end-markets and finds competition fears overblown.