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Fly News Breaks for January 14, 2020
PFPT
Jan 14, 2020 | 07:53 EDT
As previously reported, DA Davidson analyst Andrew Nowinski initiated coverage of Proofpoint with a Buy rating and $140 price target. The analyst expects the company's "consistent" growth to be sustained thanks to its continued focus on email and also believes that its Microsoft Office 365 business will remain a "top growth driver" with only about 40%-50% penetration. Nowinski further states that he is positive on Proofpoint's competitive landscape and sees its new pricing bundles driving larger deals and higher average selling prices in 2020.
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