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PFPT - Proofpoint downgraded at Summit on slowing growth amid pandemic
Proofpoint Inc.
Expecting slowing growth as the pandemic continues, Summit Insights downgrades Proofpoint (PFPT) from Buy to Hold and cuts $40 off the price target for $100. PFPT shares are down 1% to $94.78.Last week, Proofpoint reported Q3 beats with revenue up 17% Y/Y and raised its full-year outlook.Seeking Alpha gives Proofpoint a B Growth Grade. Here are a few the metrics that go into the grade (see all of the metrics here):