Intrinsic value of Imperva - IMPV

Previous Close

$44.55

  Intrinsic Value

$1.66

stock screener

  Rating & Target

str. sell

-96%

  Value-price divergence*

+94%

Previous close

$44.55

 
Intrinsic value

$1.66

 
Up/down potential

-96%

 
Rating

str. sell

 
Value-price divergence*

+94%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of IMPV stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.82
  20.00
  18.50
  17.15
  15.94
  14.84
  13.86
  12.97
  12.17
  11.46
  10.81
  10.23
  9.71
  9.24
  8.81
  8.43
  8.09
  7.78
  7.50
  7.25
  7.03
  6.82
  6.64
  6.48
  6.33
  6.20
  6.08
  5.97
  5.87
  5.79
  5.71
Revenue, $m
  264
  317
  375
  440
  510
  586
  667
  753
  845
  942
  1,043
  1,150
  1,262
  1,378
  1,500
  1,626
  1,758
  1,895
  2,037
  2,184
  2,338
  2,497
  2,663
  2,836
  3,015
  3,202
  3,397
  3,600
  3,811
  4,031
  4,261
Variable operating expenses, $m
 
  381
  451
  527
  611
  701
  798
  901
  1,010
  1,125
  1,246
  1,370
  1,503
  1,642
  1,786
  1,937
  2,094
  2,256
  2,426
  2,602
  2,784
  2,974
  3,172
  3,377
  3,591
  3,814
  4,046
  4,287
  4,539
  4,801
  5,075
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  333
  381
  451
  527
  611
  701
  798
  901
  1,010
  1,125
  1,246
  1,370
  1,503
  1,642
  1,786
  1,937
  2,094
  2,256
  2,426
  2,602
  2,784
  2,974
  3,172
  3,377
  3,591
  3,814
  4,046
  4,287
  4,539
  4,801
  5,075
Operating income, $m
  -69
  -64
  -75
  -88
  -101
  -116
  -131
  -148
  -165
  -184
  -203
  -220
  -241
  -263
  -286
  -311
  -336
  -362
  -389
  -417
  -447
  -477
  -509
  -542
  -576
  -612
  -649
  -687
  -728
  -770
  -814
EBITDA, $m
  -61
  -58
  -68
  -80
  -93
  -106
  -121
  -137
  -153
  -171
  -190
  -209
  -229
  -250
  -273
  -295
  -319
  -344
  -370
  -397
  -425
  -454
  -484
  -515
  -548
  -582
  -617
  -654
  -692
  -732
  -774
Interest expense (income), $m
  0
  0
  0
  2
  3
  5
  6
  8
  10
  12
  14
  16
  18
  20
  23
  25
  28
  31
  34
  37
  40
  43
  47
  50
  54
  57
  61
  66
  70
  74
  79
Earnings before tax, $m
  -69
  -64
  -76
  -89
  -104
  -120
  -137
  -155
  -175
  -195
  -217
  -236
  -259
  -284
  -309
  -336
  -364
  -393
  -423
  -454
  -486
  -520
  -555
  -592
  -630
  -669
  -710
  -753
  -798
  -844
  -893
Tax expense, $m
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -70
  -64
  -76
  -89
  -104
  -120
  -137
  -155
  -175
  -195
  -217
  -236
  -259
  -284
  -309
  -336
  -364
  -393
  -423
  -454
  -486
  -520
  -555
  -592
  -630
  -669
  -710
  -753
  -798
  -844
  -893

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  261
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  409
  212
  252
  295
  342
  392
  447
  505
  566
  631
  699
  771
  846
  924
  1,005
  1,090
  1,178
  1,270
  1,365
  1,464
  1,567
  1,674
  1,785
  1,901
  2,021
  2,146
  2,277
  2,413
  2,554
  2,702
  2,856
Adjusted assets (=assets-cash), $m
  148
  212
  252
  295
  342
  392
  447
  505
  566
  631
  699
  771
  846
  924
  1,005
  1,090
  1,178
  1,270
  1,365
  1,464
  1,567
  1,674
  1,785
  1,901
  2,021
  2,146
  2,277
  2,413
  2,554
  2,702
  2,856
Revenue / Adjusted assets
  1.784
  1.495
  1.488
  1.492
  1.491
  1.495
  1.492
  1.491
  1.493
  1.493
  1.492
  1.492
  1.492
  1.491
  1.493
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
  1.492
Average production assets, $m
  25
  29
  35
  41
  47
  54
  62
  70
  79
  88
  97
  107
  117
  128
  139
  151
  163
  176
  189
  203
  217
  232
  248
  264
  280
  298
  316
  335
  354
  375
  396
Working capital, $m
  194
  -32
  -38
  -44
  -51
  -59
  -67
  -75
  -84
  -94
  -104
  -115
  -126
  -138
  -150
  -163
  -176
  -189
  -204
  -218
  -234
  -250
  -266
  -284
  -302
  -320
  -340
  -360
  -381
  -403
  -426
Total debt, $m
  0
  14
  49
  88
  131
  176
  225
  277
  333
  391
  452
  517
  584
  654
  728
  804
  883
  966
  1,052
  1,141
  1,233
  1,330
  1,430
  1,534
  1,642
  1,755
  1,872
  1,994
  2,122
  2,255
  2,394
Total liabilities, $m
  177
  191
  226
  265
  308
  353
  402
  454
  510
  568
  629
  694
  761
  831
  905
  981
  1,060
  1,143
  1,229
  1,318
  1,410
  1,507
  1,607
  1,711
  1,819
  1,932
  2,049
  2,171
  2,299
  2,432
  2,571
Total equity, $m
  232
  21
  25
  29
  34
  39
  45
  50
  57
  63
  70
  77
  85
  92
  101
  109
  118
  127
  137
  146
  157
  167
  179
  190
  202
  215
  228
  241
  255
  270
  286
Total liabilities and equity, $m
  409
  212
  251
  294
  342
  392
  447
  504
  567
  631
  699
  771
  846
  923
  1,006
  1,090
  1,178
  1,270
  1,366
  1,464
  1,567
  1,674
  1,786
  1,901
  2,021
  2,147
  2,277
  2,412
  2,554
  2,702
  2,857
Debt-to-equity ratio
  0.000
  0.660
  1.970
  3.000
  3.820
  4.490
  5.040
  5.490
  5.870
  6.200
  6.470
  6.700
  6.910
  7.080
  7.240
  7.380
  7.500
  7.610
  7.700
  7.790
  7.870
  7.940
  8.010
  8.070
  8.120
  8.180
  8.220
  8.270
  8.310
  8.340
  8.380
Adjusted equity ratio
  -0.196
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -70
  -64
  -76
  -89
  -104
  -120
  -137
  -155
  -175
  -195
  -217
  -236
  -259
  -284
  -309
  -336
  -364
  -393
  -423
  -454
  -486
  -520
  -555
  -592
  -630
  -669
  -710
  -753
  -798
  -844
  -893
Depreciation, amort., depletion, $m
  8
  7
  7
  8
  8
  9
  10
  11
  12
  12
  13
  11
  12
  13
  14
  15
  16
  18
  19
  20
  22
  23
  25
  26
  28
  30
  32
  33
  35
  37
  40
Funds from operations, $m
  43
  -58
  -69
  -82
  -96
  -111
  -127
  -145
  -163
  -183
  -203
  -225
  -247
  -271
  -295
  -321
  -348
  -375
  -404
  -434
  -465
  -497
  -530
  -565
  -602
  -639
  -679
  -720
  -762
  -807
  -853
Change in working capital, $m
  21
  -5
  -6
  -6
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -19
  -20
  -21
  -22
  -23
Cash from operations, $m
  22
  -52
  -63
  -75
  -89
  -103
  -119
  -136
  -154
  -173
  -193
  -214
  -236
  -259
  -283
  -308
  -334
  -361
  -390
  -419
  -449
  -481
  -514
  -548
  -584
  -621
  -659
  -699
  -741
  -785
  -830
Maintenance CAPEX, $m
  0
  -2
  -3
  -3
  -4
  -5
  -5
  -6
  -7
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -16
  -18
  -19
  -20
  -22
  -23
  -25
  -26
  -28
  -30
  -32
  -33
  -35
  -37
New CAPEX, $m
  -17
  -5
  -5
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -21
  -21
Cash from investing activities, $m
  -78
  -7
  -8
  -9
  -11
  -12
  -13
  -14
  -16
  -17
  -18
  -20
  -21
  -23
  -24
  -26
  -27
  -29
  -31
  -33
  -34
  -37
  -38
  -41
  -43
  -45
  -48
  -51
  -53
  -56
  -58
Free cash flow, $m
  -56
  -60
  -71
  -85
  -99
  -115
  -132
  -150
  -170
  -190
  -211
  -234
  -257
  -282
  -307
  -334
  -362
  -391
  -420
  -452
  -484
  -518
  -552
  -589
  -627
  -666
  -707
  -750
  -794
  -841
  -889
Issuance/(repayment) of debt, $m
  0
  14
  35
  39
  42
  46
  49
  52
  55
  58
  61
  64
  67
  70
  73
  76
  79
  82
  86
  89
  93
  96
  100
  104
  108
  113
  117
  122
  128
  133
  139
Issuance/(repurchase) of shares, $m
  11
  85
  80
  94
  109
  125
  143
  161
  181
  202
  223
  243
  267
  292
  318
  345
  373
  402
  432
  464
  497
  531
  566
  603
  642
  682
  723
  767
  812
  859
  908
Cash from financing (excl. dividends), $m  
  -5
  99
  115
  133
  151
  171
  192
  213
  236
  260
  284
  307
  334
  362
  391
  421
  452
  484
  518
  553
  590
  627
  666
  707
  750
  795
  840
  889
  940
  992
  1,047
Total cash flow (excl. dividends), $m
  -61
  40
  44
  48
  52
  56
  59
  63
  67
  70
  74
  73
  77
  80
  83
  87
  90
  94
  98
  101
  105
  110
  114
  118
  123
  128
  134
  139
  145
  151
  158
Retained Cash Flow (-), $m
  8
  -85
  -80
  -94
  -109
  -125
  -143
  -161
  -181
  -202
  -223
  -243
  -267
  -292
  -318
  -345
  -373
  -402
  -432
  -464
  -497
  -531
  -566
  -603
  -642
  -682
  -723
  -767
  -812
  -859
  -908
Prev. year cash balance distribution, $m
 
  232
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  186
  -36
  -46
  -57
  -70
  -83
  -98
  -114
  -132
  -150
  -169
  -190
  -211
  -234
  -258
  -282
  -308
  -335
  -363
  -391
  -421
  -452
  -485
  -518
  -553
  -590
  -627
  -667
  -708
  -750
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  179
  -33
  -40
  -47
  -54
  -60
  -66
  -71
  -76
  -79
  -80
  -81
  -80
  -79
  -76
  -72
  -67
  -62
  -56
  -50
  -44
  -38
  -32
  -26
  -22
  -17
  -13
  -10
  -8
  -6
Current shareholders' claim on cash, %
  100
  50.0
  31.0
  19.3
  12.1
  7.6
  4.7
  3.0
  1.9
  1.2
  0.8
  0.5
  0.3
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Imperva, Inc. engages in the development, market, sale, and support of cyber security solutions that protect business critical data and applications in the cloud or on premises worldwide. The company’s SecureSphere product line provides database, file, and Web application security in various data centers, including on-premise data centers, as well as private, public, and hybrid cloud computing environments. Its SecureSphere product also secures business-critical applications and data; and provides an accelerated route to address regulatory compliance and establishes a repeatable process for data risk management. The company’s Incapsula service delivers cloud-based Website security, distributed denial of service protection, and load balancing and failover; and is designed to deploy and accessible to businesses that need to optimize the security, speed, and availability of their Websites. Its products also include ThreatRadar that provides reputation and crowdsourced security intelligence services; CounterBreach, which protects enterprise data from theft and loss due to compromised, malicious, and careless users; and Imperva Camouflage Data Masking that creates functional data for development, testing, and training by disguising sensitive information while maintaining the characteristics of the original data. In addition, the company provides ongoing product support services for hardware and software; and professional and training services. Imperva, Inc. offers its products and services to banks, retailers, insurers, technology and telecommunication companies, and hospitals; and the United States and other national, state, and local government agencies through a network of distributors and resellers. The company was founded in 2002 and is headquartered in Redwood Shores, California.

FINANCIAL RATIOS  of  Imperva (IMPV)

Valuation Ratios
P/E Ratio -21.1
Price to Sales 5.6
Price to Book 6.4
Price to Tangible Book
Price to Cash Flow 67
Price to Free Cash Flow 294.8
Growth Rates
Sales Growth Rate 12.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 112.5%
Cap. Spend. - 3 Yr. Gr. Rate 41.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -17.3%
Ret/ On Assets - 3 Yr. Avg. -21%
Return On Total Capital -29.7%
Ret/ On T. Cap. - 3 Yr. Avg. -40.7%
Return On Equity -29.7%
Return On Equity - 3 Yr. Avg. -40.7%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 79.9%
Gross Margin - 3 Yr. Avg. 79.1%
EBITDA Margin -23.1%
EBITDA Margin - 3 Yr. Avg. -24.5%
Operating Margin -26.1%
Oper. Margin - 3 Yr. Avg. -27.3%
Pre-Tax Margin -26.1%
Pre-Tax Margin - 3 Yr. Avg. -27.3%
Net Profit Margin -26.5%
Net Profit Margin - 3 Yr. Avg. -27.8%
Effective Tax Rate -1.4%
Eff/ Tax Rate - 3 Yr. Avg. -1.8%
Payout Ratio 0%

IMPV stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IMPV stock intrinsic value calculation we used $264 million for the last fiscal year's total revenue generated by Imperva. The default revenue input number comes from 2016 income statement of Imperva. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our IMPV stock valuation model: a) initial revenue growth rate of 20% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for IMPV is calculated based on our internal credit rating of Imperva, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Imperva.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of IMPV stock the variable cost ratio is equal to 120.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for IMPV stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Imperva.

Corporate tax rate of 27% is the nominal tax rate for Imperva. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the IMPV stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for IMPV are equal to 9.3%.

Life of production assets of 10 years is the average useful life of capital assets used in Imperva operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for IMPV is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $232 million for Imperva - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 31.991 million for Imperva is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Imperva at the current share price and the inputted number of shares is $1.4 billion.

RELATED COMPANIES Price Int.Val. Rating
QLYS Qualys 45.65 32.20  sell
IBM International 141.01 167.94  hold
ORCL Oracle 49.26 53.68  hold
DVMT Dell Technolog 68.71 207.07  str.buy
SYMC Symantec 28.76 36.33  hold
INTC Intel 34.65 37.95  hold
CA CA 32.51 56.09  str.buy

COMPANY NEWS

▶ ETFs with exposure to Imperva, Inc. : August 1, 2017   [Aug-01-17 04:42PM  Capital Cube]
▶ Imperva reports 2Q loss   [12:03AM  Associated Press]
▶ Imperva Announces Second Quarter 2017 Financial Results   [Jul-27-17 04:05PM  Business Wire]
▶ ETFs with exposure to Imperva, Inc. : July 12, 2017   [Jul-12-17 02:41PM  Capital Cube]
▶ Imperva to Report Second Quarter 2017 Financial Results   [Jul-06-17 08:00AM  Business Wire]
▶ ETFs with exposure to Imperva, Inc. : June 27, 2017   [Jun-27-17 03:21PM  Capital Cube]
▶ Imperva to Present at Upcoming Investor Conferences   [May-30-17 08:00AM  Business Wire]
▶ Best Cyber Security Stocks To Buy Now   [May-15-17 01:32PM  Zacks]
▶ Imperva beats Street 1Q forecasts   [May-04-17 06:18PM  Associated Press]
▶ Imperva to Report First Quarter 2017 Financial Results   [Apr-04-17 08:00AM  Business Wire]
▶ After-hours buzz: WFM, EFX, IMPV, FSLR   [Feb-08-17 06:13PM  at CNBC]
▶ Imperva reports 4Q loss   [06:06PM  AP]
Financial statements of IMPV
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.