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Proofpoint Inc: The Winning Streak Continues (PFPT)

By Nick Russo

Shares of Proofpoint Inc (NASDAQ:PFPT) traded today at $123.87, breaking its 52-week high. So far today approximately 88,000 shares have been exchanged, as compared to an average 30-day volume of 751,000 shares.

Based on a current price of $119.90, Proofpoint Inc is currently 3.1% above its average consensus analyst price target of $116.20. The stock should discover initial support at its 200-day moving average (MA) of $59.10 and subsequent support at its 50-day MA of $52.63.

Proofpoint, Inc. is a global provider of enterprise software solutions. The Company's products are comprised of an integrated suite of on-demand data protection solutions, including threat protection, regulatory compliance, archiving and governance, and secure communication. Proofpoint offers its services to large and mid-sized organizations worldwide.

In the past 52 weeks, Proofpoint Inc share prices have been bracketed by a low of $57.13 and a high of $123.87 and are now at $119.90, 110% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.9%.

SmarTrend recommended that subscribers consider buying shares of Proofpoint Inc on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $103.18. Since that recommendation, shares of Proofpoint Inc have risen 15.4%. We continue to monitor PFPT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows proofpoint inc

Ticker(s): PFPT