Evercore ISI Group Initiates Coverage on Proofpoint Inc to Buy

Evercore ISI Group Initiates Coverage on Proofpoint Inc(NASDAQ:PFPT). The shares have been rated Buy. The rating by Evercore ISI Group was issued on Jun 29, 2016.

In a different note, On Apr 25, 2016, Imperial Capital said it Maintains its rating on Proofpoint Inc. In the research note, the firm Raises the price-target to $68.00 per share. The shares have been rated ‘Outperform’ by the firm.

Proofpoint Inc (PFPT) made into the market gainers list on Fridays trading session with the shares advancing 1.17% or 0.74 points. Due to strong positive momentum, the stock ended at $63.83, which is also near the day’s high of $64.45. The stock began the session at $63.02 and the volume stood at 5,95,996 shares. The 52-week high of the shares is $75.46 and the 52 week low is $35.555. The company has a current market capitalization of $2,649 M and it has 4,14,94,727 shares in outstanding.

Proofpoint Inc(PFPT) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $79.00M. Analysts had an estimated revenue of $76.31M. Earnings per share were $-0.09. Analysts had estimated an EPS of $-0.14.

Several Insider Transactions has been reported to the SEC. On Jun 21, 2016, Gary Steele (Chief Executive Officer) sold 20,000 shares at $63.87 per share price.Also, On Jun 20, 2016, Tracey Newell (EVP, Worldwide Sales) sold 20,000 shares at $61.52 per share price.On Jun 3, 2016, David Knight (EVP&GM, Info Security Products) sold 20,300 shares at $60.13 per share price, according to the Form-4 filing with the securities and exchange commission.

Proofpoint Inc. is a security-as-a-service provider that provides data protection solutions for large and mid-sized organizations around the world. The Company’s security-as-a-service platform consists of a suite of on-demand data protection solutions including threat protection incident response regulatory compliance archiving governance eDiscovery and secure communication. The Company provides a multi-tiered security-as-a-service platform comprising solutions platform technologies and infrastructure. Its security-as-a-service platform offers a bundle of five solutions: Proofpoint Enterprise Protection Proofpoint Enterprise Privacy Proofpoint Enterprise Archive & Governance Proofpoint Nexgate Social Media Security & Compliance and Proofpoint Essentials. Its platform’s services include content inspection reputation encryption and key management notification and workflow and analytics and search.

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