Imperva announced that it now expects a loss of between 44 cents and 40 cents a share in the quarter, down from a loss of 37 cents to 33 cents a share. Analysts surveyed by Thomson Reuters expect a loss of 35 cents. The company expects revenue of $31 million to $31.5 million, down from #36 million to $37 million, while analysts expect $36.96 million.
The lowered estimates caused Fortinet stock to fall in sympathy.
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TheStreet Ratings team rates FORTINET INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FORTINET INC (FTNT) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."