In a report released today, Jonathan Ruykhaver from Robert W. Baird reiterated a Buy rating on Proofpoint (PFPT), with a price target of $135.00. The company’s shares closed last Thursday at $132.40, close to its 52-week high of $133.59.
According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 12.7% and a 57.2% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies, CrowdStrike Holdings, and Palo Alto Networks.
Currently, the analyst consensus on Proofpoint is a Strong Buy with an average price target of $132.00, a 5.6% upside from current levels. In a report issued on April 28, RBC Capital also maintained a Buy rating on the stock with a $141.00 price target.
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Based on Proofpoint’s latest earnings release for the quarter ending December 31, the company reported a quarterly 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.
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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. 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.
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