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Fly News Breaks for October 21, 2016
PFPT
Oct 21, 2016 | 09:31 EDT
Stephens analyst Jonathan Ruykhaver raised his price target for Proofpoint to $90 from $80 after the company reported Q3 revenue, billings, and non-GAAP EPS ahead of consensus expectations. The analyst believes Proofpoint's mixture of continued organic business wins, further cross-selling of TAP, strong conversion of enterprise leads and high renewal rates will lead to a "strong performance" in 2017 and beyond. Ruykhaver reiterates an Overweight rating on the shares.
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