Proofpoint (PFPT) Initiated with a Buy at Piper Jaffray

Proofpoint (PFPTResearch Report) received a Buy rating and a $155.00 price target from Piper Jaffray analyst Troy Jensen today. The company’s shares closed last Monday at $114.59.

According to TipRanks.com, Jensen is a 5-star analyst with an average return of 12.1% and a 55.1% success rate. Jensen covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and AeroVironment.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Proofpoint with a $145.73 average price target, which is a 27.1% upside from current levels. In a report issued on October 25, Robert W. Baird also reiterated a Buy rating on the stock with a $145.00 price target.

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The company has a one-year high of $133.58 and a one-year low of $78.69. Currently, Proofpoint has an average volume of 724.7K.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PFPT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Proofpoint, Inc. is a cybersecurity company, which engages in the provision of cloud-based solutions. Its security-and compliance platform is comprises of an integrated suite of threat protection, information protection, and brand protection solutions, including email protection, advanced threat protection, email authentication, data loss prevention, SaaS application protection, response orchestration and automation, digital risk, web browser isolation, email encryption, archiving, eDiscovery, supervision, secure communication, phishing simulation and security awareness computer-based training. The company was founded by Eric Hahn in June 2002 and is headquartered in Sunnyvale, CA.