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Needham Sticks to Their Buy Rating for Proofpoint Inc.

Investing.com
·1-min read


Needham analyst Alex Henderson reiterated a Buy rating on Proofpoint (NASDAQ:PFPT) Inc. on Monday, setting a price target of $150, which is approximately 23.79% above the present share price of $121.17.

Henderson expects Proofpoint Inc . to post earnings per share (EPS) of -$0.51 for the second quarter of 2020.

The current consensus among 16 TipRanks analysts is for a Strong Buy rating of shares in Proofpoint, with an average price target of $140.27.
The analysts price targets range from a high of $166 to a low of $108.

In its latest earnings report, released on 12/31/2019, the company reported a quarterly revenue of $243.43 million and a net profit of -$22.81 million. The company's market cap is $6.94 billion.

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According to TipRanks.com, Needham analyst Alex Henderson is a 5-star analyst with an average return of 16.0% and a 55.1% success rate.

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.