Wedbush initiated its coverage on Imperva IMPV with a Neutral rating and a price target of $34.
Wedbush commented, "We are initiating coverage with a NEUTRAL rating and a $34 target based on our CY13 EV/sales analysis, supported by our DCF. We believe the LT outlook for the company is positive given its positioning as a leading player in one of the
fastest growing segments of the security market, data security, which is growing at 20%+ y/y. We think security market spending, which is primarily focused on securing the perimeter, will eventually shift to a hybrid model involving the addition of data security as a complementary, but mandatory feature."
Imperva closed at $29.47 on Tuesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in