In a remarkable display of market confidence, shares of Intapp, Inc. (INTA) have surged to an all-time high, reaching a price level of $66.33. According to InvestingPro data, the company's market capitalization now stands at $5.1 billion, with the stock trading significantly above its 52-week low of $30.36. This milestone underscores a period of significant growth for the company, which has seen its stock value climb by an impressive 70.59% over the past year. The company's robust 20% revenue growth and eight analysts revising earnings upward signal strong momentum. Investors have rallied behind Intapp's strategic initiatives and strong performance, propelling the stock to new heights and setting a robust precedent for the company's future trajectory in the market. InvestingPro subscribers can access 15 additional investment tips and a comprehensive Pro Research Report for deeper insights into Intapp's valuation and growth prospects.
In other recent news, Intapp has reported robust financial results, focusing on cloud solutions and artificial intelligence. The company's first quarter results revealed a 27% year-over-year increase in cloud Annual Recurring Revenue (ARR) to $309 million, accounting for 74% of the total ARR of $417 million. The company's non-GAAP diluted EPS was reported at $0.21, and the free cash flow stood at $24.1 million. SaaS revenue increased by 30%, reaching $77 million, and total revenue grew by 17% to $119 million. However, the firm noted a 35% year-over-year decrease in net new ARR during the first quarter, attributed to a slowdown in large deal activity.
In the company's annual meeting of stockholders, Ralph Baxter (NYSE:BAX), Charles Moran, and George Neble were reelected as Class I directors and Deloitte & Touche LLP was ratified as the company's independent registered public accounting firm for the fiscal year ending June 30, 2025. The stockholders also approved executive compensation and decided on holding an annual Say-on-Pay vote.
Despite the decrease in net new ARR, Oppenheimer maintained its Perform rating for Intapp, highlighting the company's sustained SaaS revenue growth and operating leverage. Looking ahead, Intapp projects Q2 SaaS revenue between $79.5 million and $80.5 million, and full fiscal year SaaS revenue between $327.6 million and $331.6 million.
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