Informatica initiated with an Outperform at Baird

Baird initiated coverage of Informatica with an Outperform rating and $43 price target. The analyst says Informatica has emerged as a leader in cloud data management and should be positioned to help organizations prepare their data for generative artificial intelligence use cases. A growing mix of strong cloud annual recurring revenue growth should gradually improve the company’s total revenue growth profile, all while generating strong margins and cash flow, the analyst tells investors in a research note.