Proofpoint (PFPT): Separating From The Pack - Wedbush
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Wedbush analyst, Steve Koenig, reiterated his Outperform rating on shares of Proofpoint (NASDAQ: PFPT) and raised his price target to $87 from $83 after the company's 3Q execution demonstrated how the company is separating itself from slower-growing security peers. PFPT is capitalizing on growing awareness of email as the primary front-line attack vector and PFPT’s status as the best-in-class vendor in this space.
The analyst thinks that PFPT has several years of sustainable momentum as it grows the email security market and increases its 10% share.
The analyst stated "we would continue accumulating shares on top line momentum and resulting operating leverage, driven by PFPT’s differentiated technology for business email compromise and dynamic malware analysis, and by the continuing market transition to cloud security and Office 365."
Shares of Proofpoint closed at $69.78 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- Carter's (CRI) PT Lowered to $105 at Oppenheimer; Reiterates Outperform
- Polaris Industries (PII) PT Raised to $85 at Stifel Ahead of 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!