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Fly News Breaks for July 12, 2016
CUDA, IMPV
Jul 12, 2016 | 05:38 EDT
JPMorgan analyst Sterling Auty expects Imperva's (IMPV) "large miss to the June quarter" preannounced last night to weigh on the security sector despite the good results last week from Barracuda Networks (CUDA). Imperva management gave very little additional color on the call, but highlighted weakness across regions, Auty tells investors in a research note. He cut his price target for the shares to $46 from $50 and keeps a Neutral rating on the name. It was just Friday that Reuters reported that Imperva was seeking to hire an investment bank to explore options, the analyst points out. He thinks the company's inconsistent results over the past two years will warrant a discount to average takeout premiums should a deal come to fruition.
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