Informatica price target raised to $30 from $27 at UBS

UBS analyst Karl Keirstead raised the firm’s price target on Informatica (INFA) to $30 from $27 and keeps a Neutral rating on the shares. Informatica posted another in-line Q3 print, highlighted by 3.4% revenue growth, 6.7% annual recurring revenue growth, and reaffirmed 2024 top and bottom line guidance, the analyst tells investors in a research note. Combined with Informatica’s comment that “the demand environment has been consistent,” the results speak to a stable demand backdrop with no clear inflection and no obvious AI pull-through, UBS says.