Long Position on INTA @ $48.25 on 6/21/2023 (Momentum)

Intapp, Inc. (INTA) provides industry-specific cloud-based software solutions for the professional and financial services industry in the United States, the United Kingdom, and internationally. 

The company's solutions include DealCloud, a deal and relationship management solution that manages financial services firms' market relationships, prospective clients and investments, current engagements and deal processes, and operations and compliance activities; and OnePlace, a solution to manage various aspects of professional services firms' client and engagement lifecycle.

Its solutions enable private capital, investment banking, legal, accounting, and consulting firms to realize the benefits of modern AI and cloud-based architectures for their critical business functions without compromising industry-specific functionality or regulatory compliance.

The company also offers licensing solutions, such as customer relationship management, risk and compliance management, operational and financial management, collaboration, and integration solutions. It sells its software on a subscription basis through a direct enterprise sales model.

Shares have formed a bullish "cup and handle" and are expected to move higher out of this formation.  On May 8th, INTA reported a 3rd Quarter March 2023 loss of $0.20 per share on revenue of $92.0 million. The consensus estimate was a loss of $0.27 per share on revenue of $87.6 million. Revenue grew 32.1% on a year-over-year basis.

The company said it expects fourth quarter non-GAAP results to range from breakeven to earnings of $0.02 per share on revenue of $92.50 million to $93.50 million. The current consensus estimate is for breakeven results on revenue of $91.11 million for the quarter ending June 30, 2023.

Entry Point: $48.25

Stop Loss: $46.00

Trading Range: $13.54 - $49.74

Target Price: $53.00

Position closed on 6/26/2023 at price of $46.00 with a -4.66% loss in 5 days.

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