Stifel says Intapp (INTA) reported results that beat on headline metrics, but “came up short of expectations for key indicators of cloud momentum,” most notably, net new Cloud ARR and calculated billings. While the firm acknowledges that the reallocation of go-to-market resources to the company’s Enterprise motion will “introduce near-term skepticism around the top-line and require consistent execution in the coming quarters,” it maintains a Buy rating and $60 price target as it remains confident in the company’s ability to continue to capture share of its “wide SAM while steadily improving margins,” the analyst tells investors.