In a report released today, Kenneth Talanian from Evercore ISI assigned a Buy rating to Proofpoint Inc (NASDAQ: PFPT), with a price target of $135. The company’s shares opened today at $120.36.
Talanian said:
“We view Ms. Newell’s sales leadership at Proofpoint as highly effective and believe that she is taking on a role with more responsibility at another software company which does not compete with Proofpoint. It is possible that she could be taking on a C-level position which would be an understandable career progression.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 16.9% and a 76.0% success rate. Talanian covers the Technology sector, focusing on stocks such as Symantec Corp, Check Point, and FireEye Inc.
Proofpoint Inc has an analyst consensus of Strong Buy, with a price target consensus of $132.08.
See today’s analyst top recommended stocks >>
Based on Proofpoint Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.16 million. In comparison, last year the company had a GAAP net loss of $25.48 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Proofpoint, Inc. is a security and compliance company, which engages in the provision of cloud-based solutions. Its platform comprises of an integrated suite of threat, information, and brand protection solutions including: email protection, advanced threat protection, email authentication, data loss prevention, response orchestration and automation, digital risk, web browser isolation, email encryption, archiving, eDiscovery, supervision, and secure communication. The company was founded by Eric Hahn in June 2002 and is headquartered in Sunnyvale, CA.
