Proofpoint (PFPT) : Traders are bullish on Proofpoint (PFPT) as it has outperformed the S&P 500 by a wide margin of 5.14% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.73%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.7% in the last 1 week, and is up 5.54% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Proofpoint, Inc. is up 38.38% in the last 3-month period. Year-to-Date the stock performance stands at 17.14%. The stock has recorded a 20-day Moving Average of 1.71% and the 50-Day Moving Average is 11.52%.
Proofpoint (NASDAQ:PFPT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $75.96 and $74.72 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $77.46. The buying momentum continued till the end and the stock did not give up its gains. It closed at $76.15, notching a gain of 0.14% for the day. The total traded volume was 492,283 . The stock had closed at $76.04 on the previous day.
Also, Summit Redstone Partners assumes its rating on Proofpoint (NASDAQ:PFPT). The global brokerage major announces a current price target of $90 per share. Analysts at the Summit Redstone Partners have a current rating of Buy on the shares. The rating by the firm was issued on August 16, 2016.
Proofpoint, Inc. is a security-as-a-service provider that provides data protection solutions for large and mid-sized organizations around the world. The Companys 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 platforms services include content inspection, reputation, encryption and key management, notification and workflow, and analytics and search.