Baird Starts Proofpoint (PFPT) at Outperform

Baird initiates coverage on Proofpoint (NASDAQ: PFPT) with a Outperform rating and a price target of $92.00.

Analyst Jayson Noland commented, "Proofpoint is a leading player in the email security market, protecting messaging infrastructure with its widely lauded SaaS solution. The company is well positioned to grow market share with a platform-oriented approach benefiting from the shift to public cloud. We expect long-term FCF and operating margin expansion to support long-term valuation."

For an analyst ratings summary and ratings history on Proofpoint click here. For more ratings news on Proofpoint click here.

Shares of Proofpoint closed at $82.33 yesterday.

You May Also Be Interested In

• Jones Trading Starts Ellington (EFC) at Hold
• Knight Transportation (KNX) PT Lowered to $53 at Stifel
• Morgan Stanley Out Positive on Top Pick TSM (2330:TT) (TSM): 'We believe TSMC will pass through additional costs to customers'