Proofpoint (PFPT) PT Raised to $138 at BTIG
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Price: $175.90 --0%
Rating Summary:
23 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 6 | New: 18
Rating Summary:
23 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 6 | New: 18
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BTIG raised its price target on Proofpoint (NASDAQ: PFPT) to $138.00 (from $125.00) while maintaining a Buy rating following the company's 1Q. Proofpoint continued its string of beats-and-raises, highlighted by subscription revenues of $158.8M (vs. $148.8M cons.) and EPS of $0.30 (vs. $0.15 cons.).
Billings experienced record low contract duration in the quarter, evidentiary of the company’s position of strength in the marketplace from a customer retention and pricing competitiveness standpoint.
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