Benzinga | Jul 30, 2021 08:53AM EDT

JMP Securities Downgrades Proofpoint To Market Perform Over Thoma Bravo Takeover

* JMP Securities analyst Erik Suppiger downgraded Proofpoint Inc (NASDAQ: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.