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PFPT - Proofpoint: The Platform Evolution Remains Dicey
Proofpoint Inc.
For Proofpoint (PFPT), COVID-19 hit close to home. Proofpoint has to live with a new reality as its seat-based pricing model means furloughs and layoffs will affect ARR growth in the short term. This is a temporary headwind to its growth factor, which has done the bulk of the heavy lifting to make Proofpoint's valuation attractive in a frothy SaaS space. Going forward, it is essential to understand Proofpoint's platform evolution and how the macro environment will dictate its moves in the coming quarters. We believe this will help short- and long-term investors