Analyst Upgrades: Skyworks Solutions Inc, Imperva Inc, and TrueCar Inc

Analysts upwardly revised their ratings and price targets on Skyworks Solutions Inc (NASDAQ:SWKS), Imperva Inc (NYSE:IMPV), and TrueCar Inc (NASDAQ:TRUE)

Nov 4, 2016 at 10:10 AM
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Analysts are weighing in on semiconductor stock Skyworks Solutions Inc (NASDAQ:SWKS), cybersecurity concern Imperva Inc (NYSE:IMPV), and vehicle-buying platform TrueCar Inc (NASDAQ:TRUE). Here's a quick roundup of today's bullish brokerage notes for SWKS, IMPV, and TRUE.

  • SWKS initially dropped out of the gate, but quickly recovered to add 2.1% at $76.23, after the company reported better-than-expected fiscal fourth-quarter results and received an upbeat round of analyst attention. No fewer than five brokerage firms raised their price targets on the stock, including a target of $94 from B. Riley, representing territory no seen in over a year. Still, Skyworks Solutions Inc is lower on a year-to-date basis, and has attracted a number of put buyers in recent weeks. During the past 10 sessions at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), for instance, the stock has accumulated a put/call volume ratio of 1.35, which ranks in the 85th percentile of its annual range. 
  • Analysts are taking sides following IMPV's better-than-expected third-quarter financial report. While D.A. Davidson, Evercose ISI, and Macquarie all raised their opinions to the equivalent of a "buy," six other brokerage firms lowered their price targets. Indeed, there is a large divide among analysts covering Imperva Inc, as seven rate it a "buy" or better, and 11 others say it's a "hold." On the charts, IMPV is up 4.4% today at $36.65 -- trying to keep pace with sector peer FireEye Inc (NASDAQ:FEYE) -- but remains 42% lower year-to-date. 
  • Following a strong third-quarter earnings report, TRUE is up 16.5% at $10.79, earlier came within a penny of its August annual high of $11.13. Stephens has raised its outlook on the stock to "overweight," while Cowen and Company upped its price target to $8 from $7, and RBC hiked its target to $12 from $10. For the year, TrueCar Inc is up over 10%, thanks to continued support from its rising 20-week moving average, and more gains could be in store if short sellers begin to cover their positions. In fact, it would take a mind-boggling 31 days for these bears to buy back their positions, going by average daily volumes. 
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