Robert W. Baird Sticks to Their Buy Rating for Proofpoint Inc (PFPT)

By Ryan Adsit

In a report released today, Jonathan Ruykhaver from Robert W. Baird maintained a Buy rating on Proofpoint Inc (PFPTResearch Report), with a price target of $145.00. The company’s shares closed last Monday at $117.81.

According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 16.4% and a 68.2% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Varonis Systems, and Symantec Corp.

Proofpoint Inc has an analyst consensus of Strong Buy, with a price target consensus of $144.80, which is a 23.9% upside from current levels. In a report issued on October 21, Needham also maintained a Buy rating on the stock with a $150.00 price target.

See today’s analyst top recommended stocks >>

Based on Proofpoint Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $44.34 million. In comparison, last year the company had a GAAP net loss of $36.06 million.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PFPT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Proofpoint, Inc. is a cybersecurity company, which engages in the provision of cloud-based solutions. Its security-and compliance platform is comprises of an integrated suite of threat protection, information protection, and brand protection solutions, including email protection, advanced threat protection, email authentication, data loss prevention, SaaS application protection, response orchestration and automation, digital risk, web browser isolation, email encryption, archiving, eDiscovery, supervision, secure communication, phishing simulation and security awareness computer-based training. The company was founded by Eric Hahn in June 2002 and is headquartered in Sunnyvale, CA.