Proofpoint (PFPT): Separating From The Pack - Wedbush
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
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
- Time (TIME): Stuck Until A Deal Is Announced - Wells Fargo
- MKM Partners Raises Price Target on Hartford Financial (HIG) to $55
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
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!