Proofpoint (PFPT): Raising PT After A Stellar Quarter - Wells Fargo

October 21, 2016 10:22 AM EDT
Get Alerts PFPT Hot Sheet
Price: $72.72 -0.57%

Rating Summary:
    26 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 26 | New: 28
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Wells Fargo analyst, Gray Powell, reiterated his Outperform rating on shares of Proofpoint (NASDAQ: PFPT) and upped his valuation range to $88 - $94 from $84 - $89 after the company reported outstanding Q3 results with 9% upside on billings and a 6% revenue beat.

The company also demonstrated a continued improvement in profitability with all of the revenue upside flowing to the operating income line. In fact, the 10.6% operating margin represented an all-time company record.

At the midpoint of Q4 guidance, PFPT expects: billings $134.5MM, revenue of $104MM and EPS of $0.10-$0.14 vs the Street $0.06 est.

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 $69.78 yesterday.



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