RBC Capital Initiates Coverage on Proofpoint (PFPT)
Investment analysts at RBC Capital (NYSE: RY) assumed coverage on shares of Proofpoint (NASDAQ: PFPT) in a note issued to investors on Tuesday. The firm set an “outperform” rating and a $19.00 price target on the stock.
Shares of Proofpoint traded up 3.35% during mid-day trading on Tuesday, hitting $14.82. Proofpoint has a 52 week low of $12.90 and a 52 week high of $17.11. The company’s market cap is $439.5 million.
Separately, analysts at Credit Suisse (NYSE: CS) initiated coverage on shares of Proofpoint in a research note to investors on Tuesday. They set an “outperform” rating on the stock.
Proofpoint, Inc. (Proofpoint) is a security-as-a-service vendor that delivers data protection solutions, which helps medium- and large-sized organizations worldwide.