Deutsche Bank Downgrades Imperva (IMPV) to Hold
Deutsche Bank downgraded Imperva (NYSE: IMPV) from Buy to Hold with a price target of $43.00 (from $45.00). The change follow disappointing preliminary Q2 results.
"IMPV negatively pre-announced its Q2’16 numbers, and blamed longer sales cycles and smaller deals sizes for the weakness in the quarter. Comps get tougher in 2H16, and the magnitude of the slowdown (Q2’16 rev growth of 8% vs. 34% in Q1’16) barely two months after the company had guided well below the Street for Q2’16, and what we thought was a conservative guide makes us concerned about demand trends and execution. The company did not update its FY16 guide, and lack of visibility into FY16 numbers is another risk for the stock," said analyst Imtiaz Koujalgi.
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 $48.14 yesterday.