Wunderlich Initiates Coverage on Imperva Inc. (IMPV)

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Stock analysts at Wunderlich began coverage on shares of Imperva Inc. (NYSE:IMPV) in a research note issued to investors on Tuesday. The firm set a “hold” rating and a $50.00 price target on the stock. Wunderlich’s price objective would suggest a potential upside of 13.20% from the company’s current price.
IMPV has been the subject of a number of other reports. Imperial Capital dropped their target price on Imperva from $70.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, May 18th. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $60.00 target price on shares of Imperva in a report on Thursday, May 19th. Pacific Crest reissued a “buy” rating and issued a $65.00 target price on shares of Imperva in a report on Sunday, May 22nd. Deutsche Bank AG reissued a “buy” rating and issued a $45.00 target price on shares of Imperva in a report on Thursday, June 2nd. Finally, Nomura reissued a “buy” rating and issued a $60.00 target price on shares of Imperva in a report on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. Imperva currently has a consensus rating of “Buy” and a consensus target price of $54.05.
Shares of Imperva (NYSE:IMPV) traded down 0.18% during mid-day trading on Tuesday, hitting $44.17. The stock had a trading volume of 496,515 shares. The firm’s 50-day moving average price is $46.09 and its 200 day moving average price is $44.31. Imperva has a 12-month low of $31.11 and a 12-month high of $77.99. The stock’s market cap is $1.44 billion.

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Imperva (NYSE:IMPV) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.19. The firm earned $57.87 million during the quarter, compared to analyst estimates of $66.06 million. Imperva had a negative net margin of 23.75% and a negative return on equity of 25.68%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned ($0.08) EPS. Equities analysts forecast that Imperva will post ($0.80) EPS for the current fiscal year.
In related news, insider Amichai Shulman sold 3,085 shares of Imperva stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $46.28, for a total value of $142,773.80. Following the sale, the insider now owns 93,380 shares of the company’s stock, valued at $4,321,626.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Shlomo Kramer sold 75,000 shares of Imperva stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $45.12, for a total value of $3,384,000.00. Following the completion of the sale, the insider now directly owns 1,304,521 shares in the company, valued at approximately $58,859,987.52. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates increased its stake in Imperva by 3.2% in the second quarter. Raymond James & Associates now owns 6,421 shares of the company’s stock worth $276,000 after buying an additional 197 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Imperva by 1.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 17,640 shares of the company’s stock worth $759,000 after buying an additional 277 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Imperva by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 106,652 shares of the company’s stock worth $4,587,000 after buying an additional 290 shares in the last quarter. Zacks Investment Management increased its stake in Imperva by 1.8% in the second quarter. Zacks Investment Management now owns 22,093 shares of the company’s stock worth $950,000 after buying an additional 390 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Imperva by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 3,975 shares of the company’s stock worth $171,000 after buying an additional 478 shares in the last quarter. 93.26% of the stock is currently owned by institutional investors and hedge funds.
Imperva Company Profile
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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