NEW YORK (TheStreet) -- Shares of Informatica (INFA) are plunging -12.60% to $30.53 after the company was downgraded at three firms this morning, following its narrower than expected forecasts for the third quarter.
The company was downgraded to "neutral" from "positive" at Susquehanna Bancshares (SUSQ), and to "neutral" from "outperform" at both Credit Suisse Group (CS) and Robert W. Baird & Co.
The data management software vendor narrowed its full year revenue outlook to a range of $1.03 billion to $1.06 billion, from the prior $1.02 billion to $1.07 billion, and below the analysts consensus of $1.06 billion. It also dropped its earnings per share outlook to $1.50 to $1.60, from $1.55 to $1.65, lower than the $1.63 consensus estimate.
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