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

Shares of Informatica Inc. (NYSE:INFA) gapped up before the market opened 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.

INFA has been the subject of several other reports. Scotiabank raised their target price on shares of Informatica from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. UBS Group raised their target price on shares of Informatica from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Robert W. Baird restated a “neutral” rating and issued a $19.00 target price (down previously from $35.00) on shares of Informatica in a research report on Friday, February 14th. Wells Fargo & Company lowered shares of Informatica from a “buy” rating to an “equal weight” rating in a research report on Friday, February 14th. Finally, Guggenheim restated a “buy” rating and issued a $37.00 target price on shares of Informatica in a report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Informatica has a consensus rating of “Hold” and a consensus target price of $23.92.

Insider Buying and Selling

In related news, EVP John Arthur Schweitzer sold 11,503 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $18.18, for a total value of $209,124.54. Following the transaction, the executive vice president now owns 328,799 shares of the company’s stock, valued at approximately $5,977,565.82. This trade represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 34,735 shares of company stock worth $643,827 in the last three months. 48.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Informatica

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in Informatica by 13.8% in the fourth quarter. Wellington Management Group LLP now owns 13,155,084 shares of the technology company’s stock worth $341,111,000 after acquiring an additional 1,591,037 shares during the period. Vanguard Group Inc. boosted its position in shares of Informatica by 28.6% during the 4th quarter. Vanguard Group Inc. now owns 10,844,546 shares of the technology company’s stock valued at $281,199,000 after acquiring an additional 2,409,023 shares during the last quarter. FIL Ltd raised its holdings in Informatica by 0.9% in the 4th quarter. FIL Ltd now owns 10,449,229 shares of the technology company’s stock valued at $270,949,000 after buying an additional 93,685 shares during the period. FMR LLC increased its stake in shares of Informatica by 126,639.2% during the fourth quarter. FMR LLC now owns 10,369,799 shares of the technology company’s stock worth $268,889,000 after buying an additional 10,361,617 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Informatica by 16.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,211,119 shares of the technology company’s stock valued at $209,075,000 after purchasing an additional 1,168,158 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Informatica Stock Up 6.1%

The business’s fifty day moving average price is $18.51 and its 200 day moving average price is $22.09. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 797.60, a PEG ratio of 4.44 and a beta of 1.04. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.75.

Informatica (NYSE:INFA) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Informatica had a net margin of 0.61% and a return on equity of 5.76%. The company had revenue of $403.90 million for the quarter, compared to analysts’ expectations of $392.14 million. During the same period last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts expect that Informatica Inc. will post 0.63 EPS 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.