JMP Securities Downgrades Proofpoint To Market Perform Over Thoma Bravo Takeover

July 30, 2021 8:40 AM | 27 seconds read | Make a Comment

JMP Securities analyst Erik Suppiger downgraded Proofpoint Inc PFPT to Market Perform from Outperform without a price target post the Q2 results.
The company is suspending guidance for the remainder of the year in light of the pending Thoma Bravo transaction set to close in Q3, Suppiger notes.
The likelihood of the acquisition by Thoma Bravo is very high, as per the analyst.
Price action: PFPT shares closed at $174.63 on Thursday.