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UPDATE: Imperial Capital Downgrades Proofpoint On Valuation

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Wells Fargo Initiates Proofpoint At Outperform

In a report published Thursday, Imperial Capital analyst Michael Kim downgraded the rating on Proofpoint (NASDAQ: PFPT) from Outperform to In-Line, but reiterated the $40.00 price target.

In the report, Imperial Capital noted, “We are downgrading our rating on PFPT shares to In-Line from Outperform based on valuation and maintaining our one-year price target of $40. While we expect continued strong growth and share gains over the coming quarters, we see modest near-term appreciation potential given current valuation multiples. We advise investors to seek a more attractive entry point into the stock or await improved visibility on acceleration of the company's newer offerings, with potential upside from significant archiving opportunities, especially social media compliance.”

Proofpoint closed on Wednesday at $36.78.

Latest Ratings for PFPT

DateFirmActionFromTo
Aug 2014Wells FargoInitiates Coverage onOutperform
Jul 2014CitigroupMaintainsBuy
Jul 2014Goldman SachsInitiates Coverage onBuy

View More Analyst Ratings for PFPT
View the Latest Analyst Ratings

Posted-In: imperial capital Michael KimAnalyst Color Downgrades Analyst Ratings

 

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