Proofpoint Inc (PFPT) is Resumed by Wunderlich to Buy, Raises Price Target to $ 90

Proofpoint Inc (PFPT) was Resumed by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 90 from a previous price target of $83 . Wunderlich advised their investors in a research report released on Sep 13, 2016.

Many Wall Street Analysts have commented on Proofpoint Inc. Needham Initiated Proofpoint Inc on Aug 2, 2016 to “Buy”, Price Target of the shares are set at $88.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 .

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 $75.22 and hit $76.18 on the upside on Monday, eventually ending the session at $75.94, with a gain of 0.54% or 0.41 points. The heightened volatility saw the trading volume jump to 592,706 shares. Company has a market cap of $3,192 M.

In a different news, on Sep 6, 2016, Robert Darren Lee (SVP, GM Archiving & Governance) sold 2,000 shares at $76.83 per share price. According to the SEC, on Aug 25, 2016, David Knight (EVP/GM, Threat Sys Product Grp) sold 3,000 shares at $76.35 per share price. On Aug 18, 2016, Tracey Newell (EVP, Worldwide Sales) sold 20,000 shares at $75.09 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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