Imperva (NASDAQ:IMPV)‘s stock had its “hold” rating restated by stock analysts at Evercore ISI in a report released on Thursday. They currently have a $55.75 price target on the software maker’s stock. Evercore ISI’s target price would suggest a potential upside of 0.70% from the stock’s current price.

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.””

Several other research analysts also recently weighed in on the company. BidaskClub downgraded Imperva from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Royal Bank of Canada dropped their price target on Imperva to $56.00 and set an “outperform” rating for the company in a research note on Thursday. They noted that the move was a valuation call. Oppenheimer upped their price target on Imperva from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, June 18th. Morgan Stanley upgraded Imperva from an “underweight” rating to an “equal weight” rating and set a $56.00 price target for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Imperva from $45.00 to $48.00 and gave the stock an “underweight” rating in a research note on Friday, July 27th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Imperva currently has a consensus rating of “Hold” and an average price target of $56.37.

Imperva stock traded up $0.07 during midday trading on Thursday, hitting $55.36. The stock had a trading volume of 3,111,181 shares, compared to its average volume of 435,267. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -197.71 and a beta of 1.72. Imperva has a 52-week low of $37.17 and a 52-week high of $57.65.

Imperva (NASDAQ:IMPV) last posted its quarterly earnings results on Thursday, July 26th. The software maker reported ($0.26) earnings per share for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $87.22 million. During the same period in the prior year, the company posted $0.24 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, analysts predict that Imperva will post -1.15 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its position in shares of Imperva by 21.1% during the 3rd quarter. Bank of Montreal Can now owns 41,778 shares of the software maker’s stock valued at $1,940,000 after acquiring an additional 7,268 shares during the last quarter. United Services Automobile Association boosted its position in shares of Imperva by 5.0% during the 2nd quarter. United Services Automobile Association now owns 49,973 shares of the software maker’s stock valued at $2,411,000 after acquiring an additional 2,400 shares during the last quarter. Northern Trust Corp boosted its position in shares of Imperva by 4.6% during the 2nd quarter. Northern Trust Corp now owns 433,433 shares of the software maker’s stock valued at $20,913,000 after acquiring an additional 19,224 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Imperva by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 159,349 shares of the software maker’s stock valued at $7,689,000 after acquiring an additional 10,461 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in shares of Imperva during the 2nd quarter valued at approximately $3,329,000. Hedge funds and other institutional investors own 99.99% of the company’s stock.

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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Analyst Recommendations for Imperva (NASDAQ:IMPV)

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