Proofpoint (NASDAQ:PFPT) Rating Reconfirmed

The financial firm have set price target of $114.0 on Proofpoint (NASDAQ:PFPT) shares. This is 20.88 % from the last stock close. In an analyst note published on Wednesday morning, Deutsche Bank maintained their “Buy” rating on shares of PFPT.

NASDAQ:PFPT is at the moment trading -0.17% lower at $94.15 as of 10:09 AM New York time. Proofpoint’s stock is 0% in the past 200 days. It has underperformed the S&P 500, which has gained 6.00% in the same time.

According to data compiled by Thomson Reuters, Proofpoint (NASDAQ:PFPT)’s stock is covered by 21 equity analysts across the Street, with 0 analysts giving it a Sell rating, 22 a Buy rating, while 1 consider it a Hold. The 12-month consensus target price for the stock is $74.62, which reflects an downside potential of 20.74% over the current price.

Institutional Ownership

Light Street Capital Management Llc had the largest stake with ownership of 350,000 shares as of Q2 2015 for 2.64% of the portfolio. Tcs Capital Management Llc is another quite bullish active investment manager who is possessing 61,000 shares of Proofpoint or 2.49% of their portfolio. Further, Falcon Point Capital Llc have 2.4% of their portfolio invested in the company for 200,525 shares. The Illinois-based fund Cupps Capital Management Llc disclosed it had acquired a stake worth about 2.22% of the active investment manager’s stock portfolio in Proofpoint. The Minnesota-based fund Next Century Growth Investors Llc is also positive about the stock, possessing 68,466 shares or 2.07% of their portfolio.

Proofpoint (NASDAQ:PFPT) Profile

Proofpoint, Inc. is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication. The Company’s solutions are built on a cloud-based platform.

Proofpoint (NASDAQ:PFPT) traded down -0.17% on 18 October, hitting $94.15. A total of 574,149 shares of the company’s stock traded hands. This is up from average of 513,711 shares. Proofpoint has a 52 week low of $68.45 and a 52 week high of $97. The company has a market cap of $4.18 billion and a P/E ratio of 0.

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The post Deutsche Bank Maintains a “Buy” Rating on Proofpoint (NASDAQ:PFPT) and $114.0 Target appeared first on Octafinance.