Oppenheimer analyst Shaul Eyal maintained a Hold rating on Proofpoint Inc (PFPT) today. The company’s shares closed yesterday at $101.87.
Eyal wrote:
“PFPT delivered a better than consensus 4Q18 performance and has reaffirmed FY19 guidance (improved some metrics). Whether it’s Wall Street’s noise about potential MSFT product headwinds or possible European softness, results indicate the contrary and trends remain positively intact. Prior FY17/18 acquisitions appear to nicely supplement the expanding product portfolio, and we expect a continued smooth ride in that respect. Additionally, despite last quarter’s general unrest (initial FY19 softer than expected guidance and executives’ departures), PFPT is executing well, in line with prior highest standards. While still running slightly behind on its Int’l hiring plans which could create some potential lumpiness, PFPT is back to its good old execution habits. We are becoming more constructive on PFPT while maintaining our Perform rating given a recent run.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.2% and a 67.3% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and Varonis Systems.
Currently, the analyst consensus on Proofpoint Inc is a Strong Buy with an average price target of $113.33.
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Based on Proofpoint Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $36.06 million. In comparison, last year the company had a GAAP net loss of $10.96 million.
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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.
