Informatica’s (INFA) Buy Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Informatica (NYSE:INFA) in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a $24.00 price target on the technology company’s stock, down from their previous price target of $34.00.

A number of other research firms also recently commented on INFA. The Goldman Sachs Group downgraded Informatica from a “buy” rating to a “neutral” rating in a report on Friday. UBS Group increased their target price on Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Bank of America downgraded Informatica from a “buy” rating to a “neutral” rating in a report on Friday. Royal Bank of Canada downgraded Informatica from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $35.00 to $19.00 in a report on Friday. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $19.00 target price (down previously from $34.00) on shares of Informatica in a report on Friday. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Informatica presently has a consensus rating of “Hold” and an average price target of $26.17.

Informatica Trading Down 22.2 %

Shares of INFA opened at $19.59 on Friday. The company has a market capitalization of $5.98 billion, a P/E ratio of 93.27, a P/E/G ratio of 3.65 and a beta of 0.99. Informatica has a one year low of $16.37 and a one year high of $39.80. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.17 and a current ratio of 2.17. The stock has a 50-day moving average price of $25.65 and a 200 day moving average price of $25.48.

Informatica (NYSE:INFA) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). The business had revenue of $428.31 million during the quarter, compared to analysts’ expectations of $457.55 million. Informatica had a net margin of 3.89% and a return on equity of 5.29%. Sell-side analysts forecast that Informatica will post 0.43 EPS for the current fiscal year.

Informatica announced that its board has approved a stock repurchase plan on Wednesday, October 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Informatica

In other news, EVP John Arthur Schweitzer sold 10,734 shares of Informatica stock in a transaction on Monday, December 16th. The stock was sold at an average price of $27.05, for a total transaction of $290,354.70. Following the transaction, the executive vice president now directly owns 353,778 shares in the company, valued at approximately $9,569,694.90. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark Pellowski sold 10,035 shares of Informatica stock in a transaction on Monday, December 16th. The shares were sold at an average price of $27.06, for a total value of $271,547.10. Following the transaction, the chief accounting officer now owns 138,477 shares in the company, valued at approximately $3,747,187.62. This trade represents a 6.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Informatica

Several hedge funds have recently modified their holdings of INFA. ORG Wealth Partners LLC bought a new stake in shares of Informatica during the 4th quarter worth $32,000. Quarry LP bought a new stake in shares of Informatica during the 3rd quarter worth $38,000. National Bank of Canada FI boosted its stake in shares of Informatica by 3,288.0% during the 3rd quarter. National Bank of Canada FI now owns 1,694 shares of the technology company’s stock worth $43,000 after acquiring an additional 1,644 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Informatica during the 4th quarter worth $43,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Informatica during the 4th quarter worth $54,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.