Proofpoint (PFPT) PT Raised to $90 at Nomura on Solid Q3

October 21, 2016 6:57 AM EDT
Get Alerts PFPT Hot Sheet
Price: $71.14 -0.32%

Rating Summary:
    26 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
Trade PFPT Now!
Join SI Premium – FREE

Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.

Nomura Securities analyst Frederick Grieb reiterated a Buy rating and lifted his price target on Proofpoint (NASDAQ: PFPT) to $90.00 (from $84.00) following Q3 results.

Grieb commented, "Proofpoint reported 3Q'16 billings of $124.8mn, 8% above the Street estimate of $115.6mn and up 47% yoy (+40% yoy, adjusted for early renewals). Additionally, the company announced non-GAAP EPS of $0.19 for 3Q '16, well above consensus of $0.05 and guidance of $0.04 to $0.06."

FY16E EPS from $0.10 to $0.30; FY17E EPS from $0.36 to $0.54.

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.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Nomura

Add Your Comment