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In a note dated July 24 Credit Suisse analyst, Michael Nemeroff downgraded shares of Informatica Corporation
INFA from Outperform to Neutral.
Nemeroff noted that informatica slightly missed on its second quarter results. However, he said the more important issues are the reductions to third quarter and full-year 2014 guidance to below consensus levels and long-time CFO, Earl Fry stepping down from his position before the end of 2014.
As an additional concern, he noted management said the average deal size is shrinking, which he believes may reflect a shift away from infrastructure software purchases.
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