On Wednesday, analysts at Deutsche Bank reiterated a Buy rating and $52 price target on shares of Proofpoint Inc PFPT.
Imtiaz Koujalgi finds that Proofpoint is "the only pure play SaaS messaging security, archiving vendor, and a leader in the space offering a comprehensive suite of products for securing and archiving enterprise communications and data."
Proofpoint is also gaining market share, Koujalgi stated.
"As incumbents fail to innovate, Proofpoint is gaining market share. It has also executed consistently, beating and raising its numbers in every quarter since it went public in 2012."
Shares of Proofpoint closed Wednesday at $46.91, up 3.4 percent.
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