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Strong Results Boosted Intapp (INTA) in Q4

Baron Funds, an investment management company, released its “Baron Small Cap Fund” fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund was down 0.99% (Institutional Shares) in the quarter trailing the Russell 2000 Growth Index’s 1.70% return and the broader Russell 3000 Index’s 2.63% return. For the year the Fund was up 13.61% compared to 15.15% and 23.81% returns for the indexes. Although the fund’s performance this year did not surpass the benchmark, its long-term results are significantly better. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Baron Small Cap Fund highlighted stocks like Intapp, Inc. (NASDAQ:INTA) in the fourth quarter 2024 investor letter. Headquartered in Palo Alto, California, Intapp, Inc. (NASDAQ:INTA) offers industry-specific cloud-based software solutions. The one-month return of Intapp, Inc. (NASDAQ:INTA) was 12.25%, and its shares gained 66.06% of their value over the last 52 weeks. On January 30, 2024, Intapp, Inc. (NASDAQ:INTA) stock closed at $72.55 per share with a market capitalization of $5.614 billion.

Baron Small Cap Fund stated the following regarding Intapp, Inc. (NASDAQ:INTA) in its Q4 2024 investor letter:

“Intapp, Inc. (NASDAQ:INTA) offers a software platform for professional services verticals such as private equity, legal, and consulting firms. Shares rose on strong quarterly results, with year-over-year revenue growth of 17% beating expectations and operating margins more than doubling compared to the same period last year. Management also reported a record pipeline for new deal activity, particularly in large enterprises, boosted further by demand for its new AI products. The favorable backdrop for M&A and capital markets deal activity created by the election outcome should also benefit Intapp indirectly, as stronger deal activity typically leads to higher fees, hiring, and technology investment in its investment banking and private equity end markets.”

A network of interconnected data points representing cloud-based software solutions.

Intapp, Inc. (NASDAQ:INTA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Intapp, Inc. (NASDAQ:INTA) at the end of the third quarter which was 17 in the previous quarter. Intapp, Inc. (NASDAQ:INTA) generated total revenue of $119 million in the first fiscal quarter of 2025, up 17% year-over-year. While we acknowledge the potential of Intapp, Inc. (NASDAQ:INTA) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed Intapp, Inc. (NASDAQ:INTA) and shared Artisan Small Cap Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.

READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
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  • 140 Metas
  • 84 Googles
  • 65 Microsofts
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  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
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