IBD Stock Analysis
Industry Group Ranking
Emerging Pattern
Cup
* Not real-time data. All data shown was captured at
11:24AM EDT on
09/16/2024.
Intapp (INTA) is the IBD Stock Of The Day as the enterprise cloud software firm racks up a winning streak of heady sales and earnings growth. Intapp stock also is a recent breakout.
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The Palo Alto, Calif.-based company has posted four straight quarters of triple-digit percentage earnings growth. Also, its sales growth has averaged 23% on a year-over-year basis over the past four quarters.
Intapp provides specialty software for the accounting, consulting, investment banking, legal, private capital, and real estate markets. Over the past year, Intapp has been adding artificial intelligence features to its software platforms.
Intapp stock has surged since the company reported June-quarter results on Aug. 13. Intapp earned an adjusted 15 cents a share on sales of $114.4 million in its fiscal fourth quarter ended June 30. On a year-over-year basis, its earnings jumped 275% while revenue climbed 21%.
On the stock market today, Intapp stock jumped back into the 5% buy zone of its Aug. 28 breakout. On that day three weeks ago, it hit a buy point of 45.43 out of a cup base, according to IBD MarketSurge charts. It reached a more than one-year high of 46.58 before pulling back in a broader market sell-off.
Its recent high of 46.58 was a follow-on, high-handle entry, according to IBD stock analysis. Intapp stock rose 6% to close at 47.51.
As of June 30, Intapp served more than 2,550 clients. Of those, 698 each had contracts for greater than $100,000 of annual recurring revenue. And 73 clients had contracts of more than $1 million, up from 53 such clients at the end of the prior fiscal year.
On a conference call with analysts after the fiscal Q4 report, Intapp Chief Executive John Hall touted the benefits of his firm’s partnership with Microsoft (MSFT).
“Our strategic partnership with Microsoft continues to support our global growth,” Hall said.
“We enter fiscal year 2025 with optimism and confidence that our vertical SaaS (software-as-a-service) platform, applied AI strategy and strong competitive position are a strong foundation for sustained growth and execution in this large addressable market,” he said.
For the September quarter, analysts polled by FactSet expect Intapp to earn an adjusted 13 cents a share, up 117%, on sales of $117.9 million, up 16%. Wall Street sees Intapp’s earnings and sales growth slowing as the company faces more difficult year-over-year comparisons.
Intapp stock is on two IBD lists: Stock Spotlight and Tech Leaders.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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