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Intapp INTA shares ended the last trading session 6% higher at $47.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.5% gain over the past four weeks.
Intapp is benefiting from robust cloud ARR growth and an expanding partnership with Microsoft, positioning it for continued success in the vertical SaaS and AI markets.
This software developer is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of +116.7%. Revenues are expected to be $117.9 million, up 16.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Intapp, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on INTA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy).
Intapp belongs to the Zacks Internet - Software industry. Another stock from the same industry, eGain EGAN, closed the last trading session 3.5% lower at $5.03. Over the past month, EGAN has returned -30%.
For eGain, the consensus EPS estimate for the upcoming report has changed -200% over the past month to $0.01. This represents a change of -91.7% from what the company reported a year ago. eGain currently has a Zacks Rank of #3 (Hold).
Zacks Investment Research
Investors in eGain Corporation EGAN need to pay close attention to the stock based on moves in the options market lately. That is because the Feb. 21, 2025 $5 Put had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for eGain shares, but what is the fundamental picture for the company? Currently, eGain is a Zacks Rank #3 (Hold) in the Internet - Software industry that ranks in the Top 29% of our Zacks Industry Rank. Over the last 30 days, no analyst increased the earnings estimates for the current quarter, while one has dropped the estimates. The net effect has taken our Zacks Consensus Estimate for the current quarter from 6 cents per share to a penny in that period.
Given the way analysts feel about eGain right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
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Zacks Investment Research
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Intapp (INTA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Intapp is a member of our Computer and Technology group, which includes 616 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Intapp is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for INTA's full-year earnings has moved 32.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, INTA has gained about 25% so far this year. In comparison, Computer and Technology companies have returned an average of 20.3%. As we can see, Intapp is performing better than its sector in the calendar year.
Fortinet (FTNT) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 30.4%.
The consensus estimate for Fortinet's current year EPS has increased 16.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Intapp belongs to the Internet - Software industry, which includes 139 individual stocks and currently sits at #74 in the Zacks Industry Rank. This group has gained an average of 16.3% so far this year, so INTA is performing better in this area. Fortinet is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Intapp and Fortinet. These stocks will be looking to continue their solid performance.
Zacks Investment Research
Reporter Name | Murgel Michele |
Relationship | Chief People & Places Officer |
Type | Sell |
Amount | $973,682 |
SEC Filing | Form 4 |
Michele Murgel, Chief People & Places Officer at Intapp, sold 22,003 shares of Common Stock on September 12 and 13, 2024, for a total sale amount of $973,682. The sales were executed at weighted average prices of $44.1761 and $45.0125, respectively. Following these transactions, Murgel directly owns 174,573 shares of Intapp.
SEC Filing: Intapp, Inc. [ INTA ] - Form 4 - Sep. 16, 2024
For Immediate Release
Chicago, IL – September 13, 2024 – Stocks in this week’s article are Intapp INTA, Okta OKTA, Deckers Outdoor DECK and Chewy CHWY.
Play Likely Earnings Beats with 4 Top-Ranked Stocks
It is not surprising that before an earnings season, every investor looks for stocks that can beat market expectations. This is because investors always try to position themselves ahead of time and look to tap stocks that are high-quality in nature.
In this regard, we ran a screener that yielded Intapp, Okta, Deckers Outdoor and Chewy as the likely winners on an earnings beat potential.
Why Is a Positive Earnings Surprise So Important?
Historically, stocks of companies with solid quarterly earnings (on a nominal basis) tank if they miss or merely meet market expectations. After all, a 20% earnings rise (though it apparently looks good) doesn’t tell you if earnings growth has been exhibiting a decelerating trend.
Also, seasonal fluctuations come into play sometimes. If a company’s Q1 is seasonally weak and Q4 strong, then it is likely to report a sequential earnings decline. In such cases, growth rates are misleading while judging the true health of a company.
On the other hand, after much brainstorming and analysis of companies’ financials and initiatives, Wall Street analysts project earnings of companies. They in fact club their insights and a company’s guidance when deriving an earnings estimate.
Thus, outperforming that estimate is almost equivalent to beating the company’s own expectation as well as the market perception. And if the margin of earnings surprise is big, it typically drives the stock higher right after the release. Thus, more than anything else, an earnings surprise can push a stock higher.
How to Find Stocks That Can Beat?
Now, finding stocks that have the potential to beat on the bottom line may be investors’ dream but not an easy job. One way to do this is to look at the earnings surprise history of the company.
An impressive track in this regard generally acts as a catalyst in sending a stock higher. It indicates the company’s ability to surpass estimates. And investors generally believe that the company will apply the same secret sauce to execute yet another earning beat in its next release.
Here are four out of seven stocks:
Intapp: The Zacks Rank #2 company is a provider of industry-specific, cloud-based software solutions that enable connected professional and financial services firms. You can see the complete list of today’s Zacks #1 Rank stocks here.
The average earnings surprise of INTA for the past four quarters is 77.08%.
Okta: The Zacks Rank #2 company is a provider of identity for the enterprise. The company's products consist of Okta information technology Products and Okta for Developers.
The average earnings surprise of OKTA for the past four quarters is 27.15%.
Deckers Outdoor: The Zacks Rank #2 company is a leading designer, producer and brand manager of innovative, niche footwear and accessories developed for outdoor sports and other lifestyle-related activities.
The average earnings surprise of DECK for the past four quarters is 47.16%.
Chewy: Chewy Inc. operates as an online pet retailer. The company offers pet products that include dry and wet food, toys, mats, biscuits, vitamins and supplements.The stock has a Zacks Rank #2.
The average earnings surprise of CHWY for the past four quarters is 50.85%.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2335037/play-likely-earnings-beat-with-4-top-ranked-stocks
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Contact: Jim Giaquinto
Company: Zacks.com
Phone: 312-265-9268
Email: pr@zacks.com
Visit: https://www.zacks.com/
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Investment Research
Reporter Name | Baxter Ralph |
Relationship | Director |
Type | Sell |
Amount | $224,439 |
SEC Filing | Form 4 |
Ralph Baxter, a Director at Intapp, sold 5,000 shares of Common Stock on September 10, 2024, for a total sale amount of $224,439. The sales were executed at weighted average prices of $44.4973 and $45.2474, with prices ranging from $44.17 to $44.99 and $45.03 to $45.44, respectively. Following these transactions, Baxter directly owns 5,624 shares of Intapp.
SEC Filing: Intapp, Inc. [ INTA ] - Form 4 - Sep. 12, 2024
The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
Read More:
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