JMP Securities analyst Erik Suppiger raised his price target on Proofpoint shares to $140 from $130 after the company reported better than expected Q2 results and guided billings, revenue and EPS above consensus for the next quarter. The analyst, who previously projected a decline in gross margins, noted that their advance exceeded his expectations, said that Proofpoint's emerging products continue to perform well, and that the company's Wombat phishing training product is gaining "significant momentum." Suppiger keeps an Outperform rating on Proofpoint shares.