After RBC Capital and Wedbush gave Proofpoint (NASDAQ: PFPT) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Nehal Chokshi maintained a Buy rating on Proofpoint today and set a price target of $128.00. The company’s shares closed last Monday at $114.86.
According to TipRanks.com, Chokshi is a 3-star analyst with an average return of 1.0% and a 43.9% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Currently, the analyst consensus on Proofpoint is a Strong Buy with an average price target of $134.55.
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Based on Proofpoint’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $243 million and GAAP net loss of $28.73 million. In comparison, last year the company earned revenue of $198 million and had a GAAP net loss of $21.24 million.
Based on the recent corporate insider activity of 68 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.
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 cybersecurity company. It engages in the provision of cloud-based solutions. The firm’s security and compliance platform comprises of an integrated suite of threat protection, information protection, and brand protection solutions. Its solutions also includes 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 May 2002 and is headquartered in Sunnyvale, CA.
