Informatica Inc. (NYSE:INFA – Get 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
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:INFA – Get 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
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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