Informatica Falls Short of Q2 Estimates for 2-Year Low
Reuters reports, owing to uncertainty in Europe and delayed contracts, data integration company Informatica Corp. (INFA.O) went from buy to hold today as its stock plummeted 35% to a 2-year low. Informatica consolidates data for companies between systems and users, and saw inconsistent growth since the second quarter of 2011, Deutsche Bank says.
Along with news of delayed contracts, a result of the turmoil in Europe, Informatica's Q2 revenue of $188-190 million stops far short of analysts' estimates of $217.2 million. Informatica's price target dropped from $53 to $35.