Needham Initiates Coverage on Proofpoint Inc to Buy

Needham Initiates Coverage on Proofpoint Inc(NASDAQ:PFPT). The shares have been rated Buy. The rating by Needham was issued on Aug 1, 2016.

In a different note, On Jul 22, 2016, Wunderlich said it Maintains its rating on Proofpoint Inc. In the research note, the firm Raises the price-target to $75.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 22, 2016, Pacific Crest said it Downgrades its rating on Proofpoint Inc. The shares have been rated ‘Sector Weight’ by the firm. On Jul 19, 2016, Citigroup said it Maintains its rating on Proofpoint Inc. In the research note, the firm Raises the price-target to $62.00 per share. The shares have been rated ‘Buy’ by the firm. Evercore ISI Group said it Initiates Coverage on Proofpoint Inc, according to a research note issued on Jun 29, 2016. The shares have been rated ‘Buy’ by the firm.

Proofpoint Inc (PFPT) shares turned negative on Mondays trading session with the shares closing down -1.08 points or -1.44% at a volume of 3,78,008. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $75.39. The peak price level was also seen at $75.39 while the days lowest was $73.76. Finally the shares closed at $73.81. The 52-week high of the shares is $76.83 while the 52-week low is $35.555. According to the latest information available, the market cap of the company is $3,103 M.

Proofpoint Inc(PFPT) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $89.90M. Analysts had an estimated revenue of $84.22M. Earnings per share were $0.06. Analysts had estimated an EPS of $-0.07.

Several Insider Transactions has been reported to the SEC. On Jul 29, 2016, Douglas F Garn (director) sold 12,500 shares at $74.66 per share price.Also, On Jul 28, 2016, Dana L Evan (director) sold 1,500 shares at $74.16 per share price.On Jul 25, 2016, David Knight (EVP/GM, Threat Sys Product Grp) sold 10,000 shares at $70.20 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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