Proofpoint Inc (PFPT) is Initiated by Needham to Buy, Price Target at $88

Proofpoint Inc (PFPT) was Initiated by Needham to “Buy” and the brokerage firm has set the Price Target at $88. Needham advised their investors in a research report released on Aug 2, 2016.

Many Wall Street Analysts have commented on Proofpoint Inc. Rosenblatt Initiated Proofpoint Inc on Aug 1, 2016 to “Buy”, Price Target of the shares are set at $95.Company shares were Reiterated by Imperial Capital on Jul 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 83 from a previous price target of $69 .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 .

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 closed down -0.6 points or -0.78% at $75.87 with 7,50,253 shares getting traded on Friday. Post opening the session at $76.3, the shares hit an intraday low of $74.21 and an intraday high of $76.69 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jul 29, 2016, Douglas F Garn (director) sold 12,500 shares at $74.66 per share price. According to the SEC, on Jul 28, 2016, Dana L Evan (director) sold 1,500 shares at $74.16 per share price. On Jul 25, 2016, David Knight (EVP/GM, Threat Sys Product Grp) sold 10,000 shares at $70.20 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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