Intapp downgraded to Neutral from Buy at Citi

Citi downgraded Intapp (INTA) to Neutral from Buy with a price target of $78, down from $87. Following the stock’s significant outperformance in 2024, Citi sees a more balanced risk/reward in 2025 despite further upside drivers including artificial intelligence, Microsoft, and go-to-market changes, the analyst tells investors in a research note. The firm does not expect incremental acquisition activity to drive estimate revisions.