Informatica Inc., a leading technology company, has received a consensus rating of “Moderate Buy” from eleven analysts who are currently covering the company, according to MarketBeat.com. Out of the eleven analysts, four have recommended holding the stock, while seven have assigned a buy recommendation.
The average 1-year price target among brokerages that have covered Informatica in the last year is $32.55. Several equities research analysts have issued reports on the company, with Wells Fargo & Company dropping their price objective from $40.00 to $32.00 and setting an “overweight” rating. The Goldman Sachs Group also reduced their price target from $44.00 to $38.00 and maintained a “buy” rating.
UBS Group, on the other hand, lowered their price objective from $35.00 to $27.00 and assigned a “neutral” rating. Royal Bank of Canada reaffirmed an “outperform” rating with a $35.00 target price. Citigroup decreased their target price from $35.00 to $28.00 and set a “neutral” rating.
Institutional investors have shown interest in Informatica, with Wellington Management Group LLP increasing its holdings by 10.0% during the fourth quarter. Vanguard Group Inc. also raised its stake by 5.0% in the first quarter, while Fiera Capital Corp saw a significant increase of 439.2% in the second quarter. Jericho Capital Asset Management L.P. acquired a new stake in the company in the first quarter, and Allspring Global Investments Holdings LLC boosted its stake by 11.1% in the second quarter.
Informatica’s stock opened at $23.98 on Wednesday, with a fifty-day simple moving average of $24.54 and a 200-day simple moving average of $28.95. The company has a market capitalization of $7.08 billion and a beta of 1.06. Informatica reported earnings per share of $0.23 for the quarter, surpassing analysts’ consensus estimates of $0.22. The company had revenue of $400.63 million, up 6.6% from the previous year.
Based on available information, Informatica is expected to post earnings per share of 0.5 for the current fiscal year.
Informatica Inc. develops an artificial intelligence-powered platform that connects, manages, and unifies data across multi-vendor, multi-cloud, and hybrid systems at an enterprise scale worldwide. Their suite of interoperable data management products includes data integration, API and application integration, data quality and observability, and master data management.