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Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results

October 21, 2016 1:13 PM EDT

Imperial Capital reiterated an Outperform rating on Proofpoint (NASDAQ: PFPT), and raised the price target to $85.00 (from $83.00), following the company's 3Q earnings report. PFPT reported revenue of $99.8mn and adjusted EPS of $0.19, exceeding Street revenue estimates of 94.3mn and adjusted EPS estimates of 0.05. Billings grew approximately 40% yoy to $124.8mn, above previous guidance of... More