Proofpoint Given Consensus Recommendation of “Buy” by Analysts (NASDAQ:PFPT)
Proofpoint (NASDAQ:PFPT) has received a consensus recommendation of “Buy” from the fourteen analysts that are currently covering the company, AmericanBankingNews.com reports. One equities research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $43.83.
Shares of Proofpoint (NASDAQ:PFPT) opened at 39.97 on Wednesday. Proofpoint has a 52 week low of $24.04 and a 52 week high of $45.66. The stock has a 50-day moving average of $36.0 and a 200-day moving average of $35.52. The company’s market cap is $1.495 billion.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, July 24th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.40. The company had revenue of $46.40 million for the quarter, compared to the consensus estimate of $112.54 million. The company’s quarterly revenue was up 45.9% on a year-over-year basis. On average, analysts predict that Proofpoint will post $-0.39 earnings per share for the current fiscal year.
PFPT has been the subject of a number of recent research reports. Analysts at Wells Fargo & Co. initiated coverage on shares of Proofpoint in a research note on Friday, August 8th. They set an “outperform” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Proofpoint in a research note on Friday, July 25th. They now have a $47.00 price target on the stock, up previously from $46.00. Finally, analysts at Goldman Sachs initiated coverage on shares of Proofpoint in a research note on Wednesday, July 16th. They set a “buy” rating and a $42.00 price target on the stock.
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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