On Friday, shares of protection software and services developer Imperva, Inc. IMPV are crashing, down over 27% after the company reported its first quarter fiscal 2016 results after the bell Thursday. Imperva reported earnings per share of a loss of $-0.74 (excluding $0.01 from non-recurring items), missing the Zacks Consensus Estimate of a loss of $-0.71 per share and decreasing 1.4% year-over-year. Revenues of $59.8 million just edged past our consensus estimate of $59.7 million and rose 34% year-over-year. Combined product and subscription revenue increased 45% year-over-year, while services revenue growth of 41% was driven by 92% year-over-year increase on subscription revenues. Despite these strong quarterly results, analysts at Wunderlich cut Imperva’s price objective from$62.00 to $50.00. The brokerage currently has a “Buy” rating on the stock. In addition to this price cut, Needham & Company has downgraded Imperva from “Buy” to “Hold.” Analyst Scott Zeller commented that despite the company’s strong momentum, “two issues blunted MarQ and are pressuring CY16: the “ease of sale” of Database and Incapsula distracted sales from Web App Firewall deals, and EMEA sales disappointed, leading to a management change. While we do not believe IMPV is seeing tougher competition, we are concerned that license growth is anemic. Further, IMPV’s inching-up of CY16 and back-end loading the year raises caution.” Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report IMPERVA INC (IMPV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research