Proofpoint Inc (PFPT) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 80

Proofpoint Inc (PFPT) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 80 from a previous price target of $70 . RBC Capital Mkts advised their investors in a research report released on Jul 22, 2016.

Many Wall Street Analysts have commented on Proofpoint Inc. Company shares were Reiterated by Wunderlich on Jul 22, 2016 to “Buy”, Firm has raised the Price Target to $ 83 from a previous price target of $75 .Proofpoint Inc was Downgraded by Pacific Crest to ” Sector Weight” on Jul 22, 2016. Company shares were Reiterated by Stifel on Jul 22, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .

On the company’s financial health, Proofpoint Inc reported $-0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $-0.14. The company had revenue of $79.00 million for the quarter, compared to analysts expectations of $76.29 million. The company’s revenue was up 36.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Proofpoint Inc opened for trading at $66.77 and hit $68.61 on the upside on Wednesday, eventually ending the session at $68.24, with a gain of 2.97% or 1.97 points. The heightened volatility saw the trading volume jump to 6,45,612 shares. Company has a market cap of $2,832 M.

In a different news, on Jul 19, 2016, Tracey Newell (EVP, Worldwide Sales) sold 20,000 shares at $66.93 per share price. According to the SEC, on Jul 14, 2016, Gary Steele (Chief Executive Officer) sold 20,000 shares at $67.77 per share price. On Jul 13, 2016, Robert Darren Lee (SVP, GM Archiving & Governance) sold 2,000 shares at $68.99 per share price, according to the Form-4 filing with the securities and exchange commission.

Proofpoint Inc. is a security-as-a-service provider that provides data protection solutions for large and mid-sized organizations around the world. The Company’s security-as-a-service platform consists of a suite of on-demand data protection solutions including threat protection incident response regulatory compliance archiving governance eDiscovery and secure communication. The Company provides a multi-tiered security-as-a-service platform comprising solutions platform technologies and infrastructure. Its security-as-a-service platform offers a bundle of five solutions: Proofpoint Enterprise Protection Proofpoint Enterprise Privacy Proofpoint Enterprise Archive & Governance Proofpoint Nexgate Social Media Security & Compliance and Proofpoint Essentials. Its platform’s services include content inspection reputation encryption and key management notification and workflow and analytics and search.

Proofpoint Inc

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