Needham analyst Alex Henderson maintained a Buy rating on Proofpoint Inc (PFPT) today and set a price target of $150.00. The company’s shares closed last Monday at $124.45, close to its 52-week high of $133.58.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 13.9% and a 51.7% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Cisco Systems Inc, Lumentum Holdings, and Juniper Networks.
Currently, the analyst consensus on Proofpoint Inc is a Strong Buy with an average price target of $144.83, which is a 18.9% upside from current levels. In a report issued on October 11, Wedbush also reiterated a Buy rating on the stock with a $140.00 price target.
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Based on Proofpoint Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $28.91 million. In comparison, last year the company had a GAAP net loss of $36.06 million.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PFPT in relation to earlier this year.
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Proofpoint, Inc. is a cybersecurity company, which engages in the provision of cloud-based solutions. Its security-and compliance platform is comprises of an integrated suite of threat protection, information protection, and brand protection solutions, including email protection, advanced threat protection, email authentication, data loss prevention, SaaS application protection, response orchestration and automation, digital risk, web browser isolation, email encryption, archiving, eDiscovery, supervision, secure communication, phishing simulation and security awareness computer-based training. The company was founded by Eric Hahn in June 2002 and is headquartered in Sunnyvale, CA.