Imperva (NASDAQ:IMPV)‘s stock had its “hold” rating reiterated by investment analysts at Evercore ISI in a research note issued on Thursday. They currently have a $55.75 price target on the software maker’s stock. Evercore ISI’s price objective would suggest a potential upside of 0.70% from the stock’s previous close.
The analysts wrote, “We believe most strategic acquirers, however, have been less active in the space. Recall that in October 2016, IMPV was forecasted to grow revenue low double digits with just about breakeven non-GAAP profitability. The company finished 2017 with 22% revenue growth and ~11% operating margins. Forecasts for F18 revenue have previously been cut due to a shift to more ratable sales (see our prior earnings note here). The uncertainty around growth (better measured by billings) and profitability caused the more recent decline in the stock, but we believe the fundamentals are in a materially better position than during the October 2016 timeframe. Given the announced acquisition, we are downgrading IMPV from and moving our PT from $56 to $55.75.””
A number of other equities analysts have also weighed in on the company. Macquarie lowered Imperva from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Thursday. Royal Bank of Canada decreased their target price on Imperva to $56.00 and set an “outperform” rating for the company in a research report on Thursday. They noted that the move was a valuation call. Morgan Stanley raised Imperva from an “underweight” rating to an “equal weight” rating and set a $56.00 target price for the company in a research report on Thursday. ValuEngine raised shares of Imperva from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, BidaskClub lowered shares of Imperva from a “buy” rating to a “hold” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $56.37.
NASDAQ:IMPV traded up $0.07 during mid-day trading on Thursday, reaching $55.36. The company’s stock had a trading volume of 3,111,181 shares, compared to its average volume of 435,267. Imperva has a 12-month low of $37.17 and a 12-month high of $57.65. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -197.71 and a beta of 1.72.
Imperva (NASDAQ:IMPV) last issued its earnings results on Thursday, July 26th. The software maker reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.07. Imperva had a negative return on equity of 6.92% and a negative net margin of 8.59%. The business had revenue of $84.80 million during the quarter, compared to analyst estimates of $87.22 million. During the same quarter in the previous year, the firm earned $0.24 EPS. Imperva’s revenue was up 13.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Imperva will post -1.15 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Imperva by 4.0% during the 2nd quarter. BlackRock Inc. now owns 2,362,641 shares of the software maker’s stock valued at $113,997,000 after purchasing an additional 91,444 shares during the last quarter. RGM Capital LLC increased its position in shares of Imperva by 0.8% during the 2nd quarter. RGM Capital LLC now owns 1,777,212 shares of the software maker’s stock valued at $85,750,000 after purchasing an additional 14,045 shares during the last quarter. Rothschild Asset Management Inc. increased its position in shares of Imperva by 18.4% during the 2nd quarter. Rothschild Asset Management Inc. now owns 594,441 shares of the software maker’s stock valued at $28,682,000 after purchasing an additional 92,349 shares during the last quarter. Bank of America Corp DE increased its holdings in Imperva by 1.2% in the 2nd quarter. Bank of America Corp DE now owns 528,022 shares of the software maker’s stock worth $25,478,000 after acquiring an additional 6,443 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Imperva by 27.9% in the 2nd quarter. Legal & General Group Plc now owns 519,725 shares of the software maker’s stock worth $25,077,000 after acquiring an additional 113,280 shares in the last quarter. 99.99% of the stock is owned by hedge funds and other institutional investors.
Imperva Company Profile
Imperva, Inc engages in the development, market, sale, and support of cyber security solutions that protect business critical data and applications in the cloud or on premises worldwide. The company's SecureSphere product line provides database, file, and Web application security in various data centers, including on-premises data centers, as well as in private, public, and hybrid cloud computing environments.
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