Informatica Corp. Downgraded by Barclays Capital to Equal Weight (INFA)
Informatica Corp. (NASDAQ:INFA) was downgraded by equities researchers at Barclays Capital from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, Analyst Ratings News reports. They currently have a $44.00 target price on the stock, down from their previous target price of $45.00. Barclays Capital’s target price would suggest a potential upside of 8.83% from the company’s current price.
The analysts wrote, “At current levels (~$40), we believe the CY15 P/E of c. 20x already reflects relatively strong revenue growth at INFA. Given we do not currently see evidence of a further acceleration, we believe upside to the multiple will be limited for the next several quarters and are thus downgrading the shares to Equal Weight. Current Q3 estimates should be achievable, especially with the ~$6m tailwind from the recognition of deferred license revenue in Q2, but upside is likely limited, in our view. This is partially based on the deterioration in the data for INFA within our VAR survey, as several partners reported their INFA businesses coming in below plan.”
Several other analysts have also recently commented on the stock. Analysts at Robert W. Baird raised their price target on shares of Informatica Corp. from $40.00 to $45.00 in a research note to investors on Friday, September 27th. They now have an “outperform” rating on the stock. Separately, analysts at Roth Capital raised their price target on shares of Informatica Corp. from $44.00 to $48.00 in a research note to investors on Sunday, September 22nd. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna upgraded shares of Informatica Corp. from a “neutral” rating to a “positive” rating in a research note to investors on Friday, September 20th. They now have a $48.00 price target on the stock, up previously from $37.00. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $40.94.
Informatica Corp. (NASDAQ:INFA) traded down 2.40% on Monday, hitting $39.46. The stock had a trading volume of 536,881 shares. Informatica Corp. has a one year low of $24.71 and a one year high of $41.49. The stock has a 50-day moving average of $38.05 and a 200-day moving average of $36.24. The company has a market cap of $4.271 billion and a P/E ratio of 54.64.
Informatica Corp. (NASDAQ:INFA) last released its earnings data on Thursday, July 25th. The company reported $0.31 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.31. The company had revenue of $222.40 million for the quarter, compared to the consensus estimate of $220.68 million. During the same quarter last year, the company posted $0.29 earnings per share. Informatica Corp.’s revenue was up 16.8% compared to the same quarter last year.
In other Informatica Corp. news, CEO Sohaib Abbasi unloaded 21,700 shares of the company’s stock on the open market in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.90, for a total transaction of $844,130.00. Following the completion of the transaction, the chief executive officer now directly owns 78,102 shares in the company, valued at approximately $3,038,168. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Informatica Corporation (NASDAQ:INFA) is an independent provider of enterprise data integration and data quality software and services.
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