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Stock analysts at Imperial Capital increased their target price on shares of Proofpoint (NASDAQ:PFPT) from $34.00 to $45.00 in a report issued on Friday, StockRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. Imperial Capital’s price objective indicates a potential upside of 23.19% from the company’s current price.

Shares of Proofpoint (NASDAQ:PFPT) traded up 15.82% during mid-day trading on Friday, hitting $42.31. The stock had a trading volume of 1,157,186 shares. Proofpoint has a one year low of $12.63 and a one year high of $40.00. The stock’s 50-day moving average is $33.87 and its 200-day moving average is $30.43. The company’s market cap is $1.519 billion.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, January 30th. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.12) by $0.05. The company had revenue of $40.80 million for the quarter, compared to the consensus estimate of $35.62 million. On average, analysts predict that Proofpoint will post $-0.37 earnings per share for the current fiscal year.

PFPT has been the subject of a number of other recent research reports. Analysts at JMP Securities raised their price target on shares of Proofpoint from $37.00 to $53.00 in a research note to investors on Friday. Separately, analysts at Stifel Nicolaus raised their price target on shares of Proofpoint from $43.00 to $50.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Pacific Crest raised their price target on shares of Proofpoint from $39.00 to $45.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Nine equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $41.35.

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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