Informatica (NYSE:INFA) Shares Gap Up Following Analyst Upgrade

Informatica Inc. (NYSE:INFAGet Free Report)’s share price gapped up prior to trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $19.00 to $22.00. The stock had previously closed at $22.55, but opened at $23.83. Royal Bank of Canada currently has a sector perform rating on the stock. Informatica shares last traded at $23.78, with a volume of 20,540,537 shares.

A number of other analysts have also recently weighed in on INFA. UBS Group upped their price target on Informatica from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Truist Financial reiterated a “buy” rating and set a $24.00 target price (down from $34.00) on shares of Informatica in a research note on Friday, February 14th. The Goldman Sachs Group upped their target price on Informatica from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Bank of America lowered Informatica from a “buy” rating to a “neutral” rating in a report on Friday, February 14th. Finally, Wedbush downgraded Informatica to a “neutral” rating in a research report on Friday, February 14th. Thirteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Informatica has an average rating of “Hold” and a consensus price target of $23.92.

Read Our Latest Report on INFA

Insider Activity

In other Informatica news, EVP John Arthur Schweitzer sold 11,729 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $19.36, for a total value of $227,073.44. Following the transaction, the executive vice president now directly owns 404,681 shares of the company’s stock, valued at $7,834,624.16. This trade represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 34,735 shares of company stock valued at $643,827. Insiders own 48.10% of the company’s stock.

Hedge Funds Weigh In On Informatica

Several hedge funds and other institutional investors have recently made changes to their positions in INFA. Wells Fargo & Company MN boosted its holdings in Informatica by 15.0% in the fourth quarter. Wells Fargo & Company MN now owns 81,033 shares of the technology company’s stock worth $2,101,000 after purchasing an additional 10,553 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Informatica by 21.0% in the 4th quarter. Victory Capital Management Inc. now owns 20,603 shares of the technology company’s stock valued at $534,000 after purchasing an additional 3,575 shares during the period. Norges Bank acquired a new position in shares of Informatica during the 4th quarter worth approximately $25,265,000. D. E. Shaw & Co. Inc. bought a new position in Informatica in the 4th quarter valued at approximately $748,000. Finally, KBC Group NV raised its stake in shares of Informatica by 69.4% during the fourth quarter. KBC Group NV now owns 3,235 shares of the technology company’s stock valued at $84,000 after acquiring an additional 1,325 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Informatica Price Performance

The firm has a market cap of $7.24 billion, a P/E ratio of 797.60, a P/E/G ratio of 4.44 and a beta of 1.04. The business’s 50 day moving average is $18.51 and its two-hundred day moving average is $22.09. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.75.

Informatica (NYSE:INFAGet Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $403.90 million during the quarter, compared to analysts’ expectations of $392.14 million. Informatica had a net margin of 0.61% and a return on equity of 5.76%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. As a group, analysts anticipate that Informatica Inc. will post 0.63 earnings per share for the current year.

About Informatica

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Informatica Inc develops an artificial intelligence-powered platform that connects, manages, and unifies data across multi-vendor, multi-cloud, and hybrid systems at enterprise scale worldwide. Its platform includes a suite of interoperable data management products, including data integration products to ingest, transform, and integrate data; API and application integration products that enable users to create and manage APIs and integration processes for app-to-app synchronization, business process orchestration, B2B partner management, application development, and API management; data quality and observability products to profile, cleanse, standardize, observe, and monitor data to deliver accurate, complete, and consistent data; and master data management products to create an authoritative single source of truth of business-critical data.

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