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Elliott's Stake In Imperva Further Affirms Co.'s Long-Term Potential Valuation

Imperva Inc IMPV 12.41% shares rallied around 12 percent Tuesday following an SEC filing Monday afternoon that showed a new 9.8 percent stake by Elliott Associates.

Oppenheimer analyst Shual Eyal offered comments on Imperva amid the filing.

"We have been long arguing that IMPV's current price does not fully reflect its market opportunity, growth potential, and genuine valuation. We continue to view IMPV as having a strong leadership position within the web application firewall (WAF), database activity monitoring (DAM) and file activity monitoring (FAM) market given a robust end-to-end platform (on-and-off premise) serving both the SMB and high-end markets," Eyal said.

"In a rapidly consolidating security environment, we view Elliott's stake as further affirmation of IMPV's LT potential valuation that could be further unlocked through strategic moves," the Oppenheimer analyst continued.

Eyal reiterated an Outperform rating and $60 price target on shares of Imperva.

DateFirmActionFromTo
May 2016NeedhamDowngradesBuyHold
Apr 2016Morgan StanleyDowngradesEqual-weightUnderweight
Feb 2016Imperial CapitalMaintainsOutperform

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