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We recently compiled a list of the These 10 Firms Were Heavily Hit on Friday. In this article, we are going to take a look at where Informatica Inc. (NYSE:INFA) stands against the other stocks.
Wall Street’s main indices finished mixed on Friday, with the tech-heavy Nasdaq emerging as the sole gainer, rallying 0.41 percent. The Dow Jones, for its part, decreased by 0.37 percent, while the S&P 500 was little changed, dipping 0.01 percent.
Ten companies mirrored a mostly pessimistic broader market.
To come up with this list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A business executive in a modern office looking over reports detailing artificial intelligence.
Informatica Inc. (NYSE:INFA)
Informatica Inc. (NYSE:INFA) plummeted by 21.53 percent on Friday, the second day, ending the day down to $19.75 apiece after reporting mixed earnings performance last year.
In a statement, Informatica Inc. (NYSE:INFA) saw net income in the past quarter fell 85 percent to $9.754 million from $64.261 million in the same period last year, while revenues dipped 3.8 percent to $428 million from $445 million year-on-year.
Despite lower net profit for the quarter, Informatica Inc. (NYSE:INFA) swung to a net income of $9.93 million in full-year 2024, reversing a net loss of $125 million posted in 2023.
Revenues for the year also inched up by 2.8 percent to $1.64 billion from $1.59 billion year-on-year.
Informatica Inc. (NYSE:INFA) is a leading enterprise in AI-powered cloud data management, bringing data and AI to life by empowering businesses to realize the transformative power of their most critical assets.
Overall INFA ranks 2nd on our list of the stocks that crashed on Friday. While we acknowledge the potential of INFA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for other AI stocks that are as promising as INFA but that trade at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
Disclosure: None. This article is originally published at Insider Monkey.