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Fly News Breaks for October 11, 2018
IMPV
Oct 11, 2018 | 06:49 EDT
RBC Capital analyst Matthew Hedberg lowered his price target on Imperva to $56 after yesterday's announcement of it being acquired by Thoma Bravo for $2.1B or $55.75 per share in cash. At 5.7-times enterprise value to recurring revenue multiple, the analyst says the valuation seems "reasonable", adding he does not anticipate the emergence of another bidder. Hedberg also keeps his Outperform rating on Imperva based on its position as a leader in data security and its "strong and evolving product portfolio".
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