Intapp price target raised to $55 from $46 at Raymond James

Raymond James raised the firm’s price target on Intapp (INTA) to $55 from $46 and keeps an Outperform rating on the shares. Intapp’s Q1 results reflected a top and bottom line beat and raised FY25 outlook, despite softer bookings coming off a record 4Q24, the analyst tells investors in a research note. While the argument for meaningful multiple expansion is likely more limited, Raymond James likes the risk/reward setup on the combination of a potential for consistent 20% growth and ramping operating leverage.