Informatica initiated with a Buy at Guggenheim

Guggenheim analyst Howard Ma initiated coverage of Informatica with a Buy rating and $24 price target, calling Informatica "a uniquely positioned data management company growing profitably at scale" with "one of the stickiest customer bases within enterprise software." The firm sees total ARR consistently growing at a 10% to low-teens rate to reach $2.5B in four to five years, but adds that it sees risk of 2023 guidance being below consensus.