Proofpoint Given New $35.00 Price Target at Credit Suisse (PFPT)
Equities researchers at Credit Suisse raised their price objective on shares of Proofpoint (NASDAQ:PFPT) from $30.00 to $35.00 in a research report issued on Friday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price target indicates a potential upside of 13.16% from the company’s current price.
Shares of Proofpoint (NASDAQ:PFPT) traded down 2.24% during mid-day trading on Friday, hitting $30.93. 721,422 shares of the company’s stock traded hands. Proofpoint has a one year low of $9.77 and a one year high of $34.00. The stock has a 50-day moving average of $30.30 and a 200-day moving average of $25.22. The company’s market cap is $1.092 billion.
Proofpoint (NASDAQ:PFPT) last released its earnings data on Wednesday, October 30th. The company reported ($0.07) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.36. The company had revenue of $34.50 million for the quarter, compared to the consensus estimate of $93.35 million. Proofpoint’s revenue was up 27.3% compared to the same quarter last year. On average, analysts predict that Proofpoint will post $-0.38 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Proofpoint from $30.00 to $35.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Proofpoint from $33.00 to $34.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Proofpoint in a research note to investors on Wednesday, October 2nd. They now have a $35.00 price target on the stock, up previously from $32.00. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Proofpoint presently has an average rating of “Buy” and an average target price of $29.63.
Proofpoint, Inc (NASDAQ:PFPT) is a security-as-a-service vendor that delivers data protection solutions, which helps medium- and large-sized organizations worldwide.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.