Proofpoint PT Raised to $50.00 at Stifel Nicolaus (PFPT)
Analysts at Stifel Nicolaus increased their target price on shares of Proofpoint (NASDAQ:PFPT) from $43.00 to $50.00 in a research report issued to clients and investors on Friday, Analyst Ratings News reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 23.52% from the company’s current price.
Shares of Proofpoint (NASDAQ:PFPT) traded up 10.81% during mid-day trading on Friday, hitting $40.48. 2,032,218 shares of the company’s stock traded hands. Proofpoint has a 52 week low of $12.63 and a 52 week high of $43.37. The stock’s 50-day moving average is $34.24 and its 200-day moving average is $30.5. The company’s market cap is $1.453 billion.
Proofpoint (NASDAQ:PFPT) last released its earnings data on Thursday, January 30th. The company reported ($0.07) earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Proofpoint will post $-0.29 EPS for the current fiscal year.
A number of other firms have also recently commented on PFPT. 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. Separately, analysts at FBR Capital Markets raised their price target on shares of Proofpoint from $37.00 to $47.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Wedbush upgraded shares of Proofpoint from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, January 21st. They now have a $45.00 price target on the stock, up previously from $30.00. Nine research analysts have rated the stock with a buy rating, Proofpoint presently has an average rating of “Buy” and a consensus 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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