Proofpoint (PFPT) PT Raised to $141 at RBC Capital Into Q2 Results

RBC Capital analyst Matthew Hedberg raised the price target on Proofpoint (NASDAQ: PFPT) to $141.00 (from $120.00) while maintaining a Outperform rating ahead of earnings after the close on 4/25.

• overall they expect solid results.
• Focused on 1) sales force productivity, 2) emerging product traction and 3) successful up/cross-sell in the install base.
• continue to like the stock with reasonable valuation, a number of drivers and the potential for billings/revenue to accelerate into CY/20

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