Intapp price target raised to $52 from $46 at Piper Sandler

Piper Sandler analyst Arvind Ramnani raised the firm’s price target on Intapp to $52 from $46 and keeps an Overweight rating on the shares. The firm notes Intapp delivered healthy Q2 results, with Cloud ARR of 34% growth representing 70% of total ARR. Given its product expansion, go-to-market investments and expanding partnership relationships, Piper expects Intapp to expand its larger sized clients over the next 2-3 years, an important vector for its bullish thesis on the stock.