Proofpoint Given New $35.00 Price Target at RBC Capital (PFPT)
Stock analysts at RBC Capital increased their price objective on shares of Proofpoint (NASDAQ:PFPT) from $30.00 to $35.00 in a report issued on Thursday, StockRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target points to a potential upside of 22.42% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Imperial Capital raised their price target on shares of Proofpoint (NASDAQ:PFPT) from $33.00 to $34.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Proofpoint (NASDAQ:PFPT) in a research note to investors on Wednesday. They now have a $35.00 price target on the stock, up previously from $32.00. Finally, analysts at Pacific Crest raised their price target on shares of Proofpoint (NASDAQ:PFPT) from $29.00 to $34.00 in a research note to investors on Monday, August 19th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.06.
Shares of Proofpoint (NASDAQ:PFPT) traded down 6.66% on Thursday, hitting $28.59. 308,317 shares of the company’s stock traded hands. Proofpoint has a 1-year low of $9.77 and a 1-year high of $33.15. The stock’s 50-day moving average is $30.07 and its 200-day moving average is $23.43. The company’s market cap is $1.010 billion.
Proofpoint, Inc (NASDAQ:PFPT) is a security-as-a-service vendor that delivers data protection solutions, which helps medium- and large-sized organizations worldwide.
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