Deutsche Bank Downgrades Imperva (IMPV) to Hold

Deutsche Bank downgraded Imperva (NYSE: IMPV) from Buy to Hold with a price target of $40.00 (from $60.00).

Analyst Nandan Amladi said, "IMPV negatively preannounced its Q1’14 numbers, guiding down its Rev and EPS. It now expects Rev/ EPS of $31.0m - $31.5m / ($0.40) – ($0.44) vs prior guide of $36.0 - $37.0m/ ($0.33) – ($0.37) . IMPV indicated that 1Q14 was negatively impacted by longer sales cycle as competition intensified for large deals, and sales execution issues in the US. It replaced its head of sales last week, which now appears to be a result of the sales execution challenges. Sales execution issues and change in leadership could result in disruption for the next couple of quarters, and our outlook turns more cautious."

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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