Imperva (IMPV) Gets a Buy Rating from Evercore ISI


In a report released today, Kenneth Talanian from Evercore ISI maintained a Buy rating on Imperva (NASDAQ: IMPV), with a price target of $56. The company’s shares closed on Friday at $45.95.

Talanian noted:

“We believe the biggest point of contention is the reduction of annual revenue guidance by ~$20M primarily because of a shift to more subscription oriented deals but also factoring in a slower than expected ramp from newer sales reps. The company’s 2Q billings strength versus revenue is evidence of a healthy business shifting to more subscription based offerings, in our view (billings were 7% above consensus). The second point of contention is that the company did an acquisition that some view as expensive and may make additional acquisitions given the announcement of a potential revolver. Though we acknowledge that the timing of announcing an acquisition while cutting guidance is not ideal, we believe that management must make long-term roadmap decisions to remain relevant in a highly innovative industry.”

According to TipRanks.com, Talanian is a 5-star analyst with an average return of 16.5% and a 72.1% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Symantec Corp, and Check Point.

Currently, the analyst consensus on Imperva is a Moderate Buy with an average price target of $57.33.

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The company has a one-year high of $57.65 and a one-year low of $37.17. Currently, Imperva has an average volume of 308.3K.

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Imperva, Inc. engages in development, marketing, sales, service and support of cyber-security solutions that protect business critical data and applications. Its products include web application security, beach prevention, sharepoint, file, cloud, and data security, platform and industry solutions.

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