Proofpoint Continues To Execute At A High Level
April 21, 2017 - 9:50am
Bill Choi of Wunderlich maintains a Buy rating and $93 price target on Proofpoint Inc (NASDAQ: PFPT)'s stock after the company reported a better-than-expected first quarter report.
Q1 In Review
Proofpoint's reported revenue of $113.3 million came in ahead of consensus estimates by $110.6 million and also grew by 43 percent a year ago. Earnings per share of $0.12 were above the 9 cents per share the consensus estimate was looking for while free cash flow of $28.2 million came in ahead of the analyst's $6.7 million estimate.
Billings for the quarter were $137.4 million rose 40 percent from a year go and also exceeded the consensus estimate of $134.5 million. ...Full story available on Benzinga.com
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