Zacks Investment Research Upgrades Imperva Inc. (IMPV) to Hold
Imperva Inc. (NYSE:IMPV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Imperva Inc. is engaged in the development of protection software and services for business applications and databases. The Company delivers innovative technology to give full audit accountability and separation of duties to meet regulatory compliance. It offers SecureSphere Data Security Suite to protect sensitive data from hackers and malicious insiders along with providing a fast and cost-effective route to regulatory compliance and establishes a repeatable process for data risk management. The Company’s SecureSphere offers database security solutions to secure sensitive data stored in databases, File Security solutions to protect sensitive files on file servers, storage devices, content repositories, and meet regulatory compliance mandates and Web Application Security solutions to protect web applications from cyber attacks. Imperva Inc. is headquartered in Redwood Shores, California. “
Several other research analysts also recently issued reports on the stock. DA Davidson downgraded shares of Imperva from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Thursday, October 6th. They noted that the move was a valuation call. BTIG Research cut shares of Imperva from a “buy” rating to a “neutral” rating in a research note on Monday, October 3rd. Buckingham Research cut shares of Imperva from a “buy” rating to a “neutral” rating in a research note on Thursday, September 29th. Nomura cut shares of Imperva from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Monday, September 26th. Finally, JMP Securities reissued an “outperform” rating and issued a $56.00 target price (up previously from $50.00) on shares of Imperva in a research note on Sunday, September 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $52.33.
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Shares of Imperva (NYSE:IMPV) opened at 51.68 on Tuesday. The company’s market cap is $1.69 billion. The company’s 50-day moving average price is $47.99 and its 200 day moving average price is $44.70. Imperva has a one year low of $31.11 and a one year high of $77.99.
Imperva (NYSE:IMPV) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.19. Imperva had a negative return on equity of 25.68% and a negative net margin of 23.75%. The company had revenue of $57.87 million for the quarter, compared to the consensus estimate of $66.06 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts forecast that Imperva will post ($0.80) EPS for the current fiscal year.
In other Imperva news, insider Amichai Shulman sold 3,085 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $46.28, for a total value of $142,773.80. Following the completion of the sale, the insider now owns 93,380 shares of the company’s stock, valued at $4,321,626.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark E. Kraynak sold 2,614 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $47.73, for a total transaction of $124,766.22. Following the completion of the sale, the senior vice president now directly owns 3,552 shares of the company’s stock, valued at approximately $169,536.96. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of IMPV. Vanguard Group Inc. increased its stake in shares of Imperva by 8.7% in the second quarter. Vanguard Group Inc. now owns 2,077,265 shares of the company’s stock valued at $89,343,000 after buying an additional 165,851 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Imperva by 3.9% in the second quarter. JPMorgan Chase & Co. now owns 1,536,698 shares of the company’s stock valued at $66,092,000 after buying an additional 57,686 shares in the last quarter. Credit Suisse AG increased its stake in shares of Imperva by 865.9% in the second quarter. Credit Suisse AG now owns 1,431,447 shares of the company’s stock valued at $61,568,000 after buying an additional 1,283,243 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Imperva by 3.1% in the second quarter. Eagle Asset Management Inc. now owns 1,338,055 shares of the company’s stock valued at $57,549,000 after buying an additional 40,709 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in shares of Imperva by 50.6% in the second quarter. Pictet Asset Management Ltd. now owns 804,552 shares of the company’s stock valued at $30,718,000 after buying an additional 270,312 shares in the last quarter. 93.26% of the stock is owned by hedge funds and other institutional investors.
Imperva, Inc provides cyber-security solutions that protect business-critical data and applications whether in the cloud or on premises. The Company operates in the segment of development, marketing, sales, service and support of cyber-security solutions that protect business critical data and applications whether in the cloud or on premises.
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