PFPT - Proofpoint: Recent Weakness Is Big Buying Opportunity
Proofpoint (PFPT) reported a great start to the year with revenue growing 23% compared to the year-ago period and came in above both management’s previous guidance range and expectations. The company continues to do a good job weathering the uncertain economic environment and has a path towards increased profitability over time.
Management lowered their 2020 revenue guidance, which now implies ~13-16% growth compared to their previous guidance of ~20% growth. However, I believe there remains a lot of uncertainty in the economy and management could be providing a somewhat conservative outlook.
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