Informatica price target raised to $45 from $32 at Wells Fargo

Wells Fargo analyst Andrew Nowinski raised the firm’s price target on Informatica to $45 from $32 and keeps an Overweight rating on the shares. The firm notes Informatica reported solid Q4 results, with Cloud ARR modestly ahead of guidance. The stock traded up 18% after market close given it is a “sleeper” AI play with Cloud ARR growing consistently at 37% and solid profitability, Wells says.