AI solutions provider Intapp's Q2 revenue beats estimates

Overview

• AI solutions provider's fiscal Q2 revenue rose 16%, beating analyst expectations

• Adjusted EPS for fiscal Q2 beat analyst expectations

• Company repurchased 3.4 mln shares for $150.1 mln

Outlook

• Intapp projects third-quarter SaaS revenue between $105 mln and $106 mln

• Company expects full-year SaaS revenue between $415 mln and $419 mln

• Intapp anticipates full-year non-GAAP diluted EPS of $1.20 to $1.24

Result Drivers

• CLIENT EXPANSION - Intapp's results were supported by new client additions and expansion of existing accounts, according to CEO John Hall

• AI SOLUTIONS DEMAND - Demand for Intapp's AI-driven solutions in regulated industries contributed to quarterly performance

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy"

• Wall Street's median 12-month price target for Intapp Inc is $56.00, about 66.5% above its February 2 closing price of $33.64

• The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 32 three months ago

Press Release: ID:nBw152fWBa

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