BUZZ-Intapp climbs after Q4 results beat, share repurchase program
Shares of Intappsurged 28.5% to $47.44 in premarket trading following Q4 results that exceeded expectations. The company reported Q4 revenue of $135 million, an 18% year-over-year increase, surpassing the forecast of $132 million. Adjusted profit was 27 cents per share, beating the anticipated 23 cents. Intapp's board also announced a $150 million stock repurchase program. Despite this, INTA shares are down over 42% year-to-date, while the Nasdaq Composite has risen 12.3%.
Shares of front-end software vendor Intapp (INTA.O) jump 28.5% to $47.44 premarket
Reports Q4 revenue of $135 mln, up 18% YoY and beats analysts’ consensus forecast of $132 mln, according to data compiled by LSEG
Q4 revenue for all major segments rises, with Software as a Service (SaaS) segment recording a 27% increase YoY
Adj. Q4 profit of 27 cents/share also beats expectations of 23 cents/share
Co also says its board authorized a common stock repurchase program of up to $150 million, which will be funded from existing cash and cash equivalents or future cash flow
Of the 10 analysts that cover the stock, five rate it “buy” or higher, four “hold” and one “sell”; their median PT is $60
As of last close, INTA shares down more than 42% YTD, compared to a 12.3% rise in the Nasdaq Composite index (.IXIC)
