UPDATE: Deutsche Bank Downgrades Informatica; Lowers PT
According to a research report published Friday morning, Deutsche Bank has downgraded Informatica (NASDAQ: INFA) from Buy to Hold, and lowered PT from $53 to $35.
In the report, Deutsche Bank said, "Informatica pre-announced weak 2Q12 results with revenues expected to be b/w $188m - $190m, up 1% y/y constant currency (vs our/street estimate of up 15% y/y cc). Licenses are expected to be $70m - $72m (down 16% y/y cc , versus our +11% y/y cc estimate, and +12% in 1Q12). The miss was attributed to weak execution (new Europe head joined last April), and macro weakness across the board (across verticals/geographies) in June. We downgrade the stock to Hold, as we expect solid execution will likely take time to materialize, competition posing threat to category leadership, and see upside from trends like Big Data/Hadoop adoption as limited."
Informatica closed Thursday at $43.37.
Latest Ratings for INFA
|Jan 2015||Stifel Nicolaus||Maintains||Buy|
|Jan 2015||JP Morgan||Maintains||Neutral|
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