Informatica (INFA) shares fell by more than 30% in recent Friday trading after multiple analyst downgrades followed the company's Q4 financial results announcement.
The company late Thursday posted lower year-over-year Q4 revenue that trailed FactSet analyst estimates.
RBC downgraded the software development company to sector perform from outperform and cut its price target to $19 from $35.
Wells Fargo downgraded Informatica to equal weight from overweight and lowered its price target to $19 from $34, while Baird changed its rating to neutral from outperform with a slashed price target of $19 from $35.
Deutsche Bank downgraded the company to hold from buy and slashed its price target to $21 from $36.
Other price target cuts included UBS and Truist Securities who lowered their targets to $19 from $30, and to $24 from $34, respectively.
Price: 17.63, Change: -7.54, Percent Change: -29.96
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