Citi analyst Tyler Radke downgraded Informatica to Neutral from Buy with a price target of $18, down from $23. Following the company’s recent leadership changes and Q4 guidance update, the analyst sees a challenging 2023 with go-to-market changes "amidst softer cloud demand." He expects the first half of 2023 to remain challenging from a demand perspective for the application software sector.
Published first on TheFly
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