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News Breaks
November 28, 2012
07:13 EDTPFPTProofpoint weakness unjustified, says RBC Capital
After Proofpoint's stock tumbled about 25% after reporting Q3 results that RBC Capital views as strong ,the firm believes that the decline in the stock isn't indicative of its business, or the company’s competitive position. The firm maintains a $19 price target and Outperform rating on the shares.
News For PFPT From The Last 14 Days
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March 6, 2015
06:57 EDTPFPTProofpoint management to meet with William Blair
Meeting to be held in London n March 9 hosted by William Blair.
March 5, 2015
16:22 EDTPFPTProofpoint initiated with an Overweight at Piper Jaffray
Target $65.
March 3, 2015
07:10 EDTPFPTPalo Alto shares need to grow into valuation, says Citigroup
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March 2, 2015
08:16 EDTPFPTProofpoint to acquire Emerging Threats for $40M
Proofpoint has entered into a definitive agreement to acquire Emerging Threats, a leading provider of advanced threat intelligence, for approximately $40M in cash and stock. Proofpoint will integrate Emerging Threats' advanced threat intelligence with its existing Targeted Attack Protection and Threat Response security solutions to deliver another significant step forward in advancing the state of the art for advanced threat detection and response, across the complete attack chain. Emerging Threats uses an automated collection and analysis system, along with a team of expert threat researchers, to produce actionable threat intelligence for detecting, blocking and remediating advanced cyberattacks. The combined technology will provide customers with deeper insight into cyberthreats, enabling them to react faster to inbound cyberattacks, and to identify, block, and disable previously undetected malware already embedded in their organizations.
February 24, 2015
10:28 EDTPFPTAnalyst sees 'massive' IT security upgrade cycle still in early innings
A number of trends are spurring businesses and the government to spend aggressively on cyber security offerings, benefiting companies in the IT security sector, wrote research firm FBR Capital in a note to investors today. In conjunction, the firm raised its price target on a number of stocks in the sector. WHAT'S NEW: After conducting checks, FBR Capital analyst Daniel Ives believes that spending on advanced cyber security products has increased this quarter. The ongoing series of well-publicized cyber attacks on large companies is causing businesses to become more concerned about protecting themselves from this threat, according to Ive, who believes that advanced IT security products have "massive," once in a multi-decade growth potential. Data points indicate that enterprises are looking to buy more advanced firewall/cloud security solutions, while the sizes of purchases by customers in the space have increased. Meanwhile, given the high priority that the Obama administration has placed on cyber security, the federal government's spending on IT security is likely to rise in the coming quarters and years, Ives wrote. Forecasting a 20% increase in overall cyber security spending this year, the analyst believes that the following companies should benefit disproportionately from the positive trends, since they have "the right products at the right time:" Palo Alto (PANW), FireEye (FEYE), Proofpoint (PFPT), Check Point (CHKP), and Fortinet (FTNT). The analyst raised his price target on Fortinet to $39 from $36, on Palo Alto to $160 from $121, on Proofpoint to $67 from $60, and on Check Point to $93 from $85. He kept Outperform ratings on all the stocks named. WHAT'S NOTABLE: In its own note to investors, RBC Capital said it expects Palo Alto to report stronger than expected Q2 results, driven by "impressive" revenue and margin improvements. The firm raised its price target on the shares to $150 from $145 and kept an Outperform rating on the stock. PRICE ACTION:In early trading, Palo Alto added 0.2% to $138.41, FireEye advanced 1.2% to $43.87, Proofpoint lost slipped fractionally to $56.55, Check Point rose 0.5% at $82.77, and Fortinet gained 1.3% to $33.76.
08:32 EDTPFPTFBR checks show strong cybersecurity deal momentum
FBR Capital raised its price targets in the next-generation cybersecurity space after its channel checks showed strong deal momentum so far in the March quarter. The firm believes the "massive upgrade cycle" for next-generation cybersecurity remains in the early days. It raised its price target for Fortinet (FTNT) to $39 from $36, for Palo Alto (PANW) to $160 from $121, for FireEye (FEYE) to $53 from $45, for Proofpoint (PFPT) to $67 from $60 and for Check Point (CHKP) to $93 from $85.
February 23, 2015
10:15 EDTPFPTCyberArk sinks after JPMorgan analyst cuts rating to sell
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