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PFPT - Proofpoint: 2020 Points To Another Strong Year
Proofpoint Inc.
Despite reporting a rather strong quarter and confident 2020 guidance, shares of Proofpoint (PFPT) were down over 8% following their recent earnings. While the stock remains up nearly 40% year to date, since mid-October the stock has been down almost 15%. I believe the recent pullback is a bit overdone and investors should feel confident in the long-term for PFPT.
PFPT reported Q3 revenue and EPS that came in well ahead of expectations in addition to billings growth accelerating compared to last quarter. Margins improved and were quite strong, leading to healthy FCF