Oppenheimer Downgrades Imperva (IMPV) to Perform

Oppenheimer downgraded Imperva (NYSE: IMPV) from Outperform to Perform and removed their $65 price target following the company's Q1 warning.

Analyst Shaul Eyal siad, "Our downgrade is driven by: 1.) negative 1Q pre-announcement driven mainly by US weakness; 2.) increased competition for >$100K deals; 3.) our belief the fixing period this time could exceed a quarter (unlike 2Q13 weakness that was quickly overturned); and 4.) elevated execution risk as IMPV is also in the midst of integrating two companies acquired in 4Q13. We continue to see IMPV as leading the nascent Database Security (DBS) market and LT as a takeout target, but believe a more NT neutral stance is in place."

For an analyst ratings summary and ratings history on Imperva click here. For more ratings news on Imperva click here.

Shares of Imperva closed at $49.73 yesterday.

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