Oppenheimer Reiterates Outperform on Imperva Inc (IMPV) Despite Disappointing Q2 Pre-Announcement

Following Imperva Inc’s (NYSE:IMPV) pre-announcement of disappointing 2Q16 results, Oppenheimer analyst, Shaul Eyal weighed in on the stock.

The analyst notes that the company’s poor earnings stem from an extended sales cycle and a customer shift from platforms procurement to point solution. The analyst explains that the firm’s shortcomings are company-specific and do not indicate any weakness in the industry.

He adjusts his estimates to reflect the slowdown in revenue growth. Eyal estimates revenues to be $279.3M, down from previous estimates of $305.5M. However, EPS estimates have been increased from $0.25 to $0.34.

Despite reduced revenue estimates, Eyal reiterates an Outperform rating for IMPV with a price target of $60.00.

Shaul Eyal is a highly ranked analyst on TipRanks with an average return of 10.4% and a success rate of 61%.

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