Intapp, Inc. (INTA): A Bull Case Theory

We came across a bullish thesis on Intapp, Inc. on Business Invest’s Substack by Francesco Ferrari. In this article, we will summarize the bulls’ thesis on INTA. Intapp, Inc.'s share was trading at $42.68 as of December 1st. INTA’s forward P/E was 36.76 according to Yahoo Finance.

Intapp, Inc. (INTA) is a niche enterprise software provider focused on professional and financial services firms such as law, accounting, consulting, and private equity—industries that operate on complex relationship networks, client-based projects, and sensitive data management. The company’s cloud platform integrates key operational functions including client onboarding, workflow automation, time and billing management, and compliance, enabling firms to manage critical information securely and efficiently within a unified system.

Intapp’s model benefits from strong recurring revenue streams and deep client stickiness given the specialized nature of its solutions and high switching costs in its end markets. The company’s financial profile reflects robust performance, with a three-year revenue CAGR of 22.8%, supported by a high 74% gross margin that highlights the scalability of its software-as-a-service (SaaS) platform.

While its return on invested capital remains negative, Intapp is generating a solid 24.2% free cash flow margin, underscoring improving operational efficiency and cash generation as it scales. The company’s low beta of 0.71 indicates defensive characteristics and limited volatility compared to broader markets, aligning with its stable, contract-based revenue base.

Over the past 4.3 years, Intapp’s stock has compounded at an 8.4% annual rate, reflecting investor confidence in its long-term growth trajectory and expanding relevance across knowledge-based industries. As digital transformation accelerates in professional services, Intapp’s purpose-built, cloud-native solutions position it as a strategic enabler of productivity and compliance, offering a durable growth opportunity supported by high-quality fundamentals and recurring cash flows.

Previously we covered a bullish thesis on Paycom Software, Inc. (PAYC) by Sabar Capital in May 2025, which highlighted its integrated HCM platform and innovation-led growth. The company’s stock has depreciated approximately by 28.83% since our coverage as the thesis didn’t fully play out amid competition. The thesis still stands as Paycom’s SaaS model remains resilient. Francesco Ferrari shares a similar view but emphasizes Intapp’s niche SaaS focus.

Intapp, Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held INTA at the end of the second quarter which was 22 in the previous quarter. While we acknowledge the potential of INTA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.