Imperva Stocks Drop 3.5% After Being Listed as Underweight by JP Morgan

    Author Samara MalkinPosted on Categories Application Software, TechTags , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
    Imperva

    It was a rough day for Imperva Inc. (NASDAQ:IMPV) stock after they were downgraded to underweight by JP Morgan (NYSE:JPM) analysts. As a result, the stock dropped by 3.5%.

    Sterling Auty, the main analyst behind this decision, claims that “sales execution issues” were the main problem at Imperva, and is concerned that Imperva’s web-application firewall may not be enough of a push for the company.

    The industry, on the whole, is seeing similar results. Check Point Software Technologies Ltd. (NASDAQ:CHKP) and Fortinet Inc. (NASDAQ:FTNT) also saw their stocks fall after being downgraded by the firm. The amount of security spending over time until 2021 has been re-evaluated; it was previously expected to grow in that time period by 6.5% annually, but now, according to the market-research firm Gartner, it will only grow 6% annually.

    Before this drop, Imperva shares had climbed 4.7% in 2017.

    Featured Image: Depositphotos/© Wavebreakmedia

    Author Samara Malkin
    About the author: Samara graduated from Simon Fraser University with a BA in English, minoring in Publishing and Creative Writing. One day she hopes to publish her very own novel, but in the meantime, she contents herself with blogging and editing. She currently specializes in writing financial news and analysis, as well as cryptocurrency news and information.