Intapp, Inc. (INTA) experienced a significant pre-market plunge of 20.5% on Wednesday. The sharp decline follows the company's release of its second-quarter fiscal year 2026 financial results after the previous trading session.
The sell-off appears primarily driven by a GAAP earnings miss and weaker-than-expected forward guidance. The company reported a quarterly GAAP net loss of $0.07 per share, which fell short of analyst expectations. Furthermore, its outlook for the third quarter provided adjusted EPS guidance in the range of $0.27 to $0.29, below the consensus estimate of $0.31. The full-year revenue guidance also came in slightly below market expectations.
Following the results, several analysts revised their price targets downward. Piper Sandler cut its target price to $33 from $42, while JP Morgan reduced its target to $58 from $70, reflecting concerns over the company's near-term profitability outlook despite some positive operational metrics in the quarter.