UPDATE: Imperial Capital Initiates Coverage on Imperva on Market Leader Position

In a report published Wednesday, Imperial Capital analyst Michael Kim initiated coverage on

with an Outperform rating and $53.00 price target. In the report, Imperial Capital noted, “We are initiating coverage on IMPV shares with an Outperform rating and a one-year price target of $53, 12% above the recent share price. We believe organizations are increasingly focusing on data center security due to sustained breaches, a trend which we think IMPV is strongly positioned to capitalize on through its integrated suite of data and application security products.” Imperva closed on Tuesday at $47.22.