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Fly News Breaks for April 26, 2019
Apr 26, 2019 | 07:36 EDT
KeyBanc analyst Rob Owens raised his price target for Proofpoint to $154 from $136 following the company's Q1 results, saying he is "encouraged" on many fronts as the company did increase its annual billings outlook, held the forward revenue outlook, increased its free cash flow outlook for the year, and further, is seeing early traction with its new solutions bundles. Owens contends that Proofpoint is setting the standard for security SaaS in terms of continued consistent growth and profitability, and that shares still have upside from current levels, and backed an Overweight rating on the shares.
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