JMP Securities Downgrades Proofpoint To Market Perform Over Thoma Bravo Takeover

by Anusuya Lahiri, Benzinga Editor
July 30, 2021 8:40 AM | 27 seconds read |
  • JMP Securities analyst Erik Suppiger downgraded Proofpoint Inc PFPT to Market Perform from Outperform without a price target post the Q2 results. 
  • The company is suspending guidance for the remainder of the year in light of the pending Thoma Bravo transaction set to close in Q3, Suppiger notes. 
  • The likelihood of the acquisition by Thoma Bravo is very high, as per the analyst. 
  • Price action: PFPT shares closed at $174.63 on Thursday.
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