In a report issued on March 16, Matthew Hedberg from RBC Capital maintained a Buy rating on Proofpoint (PFPT), with a price target of $150.00. The company’s shares closed last Monday at $111.51.
According to TipRanks.com, Hedberg is a top 100 analyst with an average return of 14.2% and a 62.3% success rate. Hedberg covers the Technology sector, focusing on stocks such as Ping Identity Holding, Altair Engineering, and Netscout Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Proofpoint with a $144.75 average price target, representing a 40.9% upside. In a report issued on March 4, First Analysis also upgraded the stock to Buy with a $143.00 price target.
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Based on Proofpoint’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $28.73 million. In comparison, last year the company had a GAAP net loss of $21.24 million.
Based on the recent corporate insider activity of 73 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. 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.
