Proofpoint Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating restated by equities research analysts at Deutsche Bank AG in a research note issued to investors on Friday.
A number of other equities analysts also recently issued reports on PFPT. Royal Bank Of Canada increased their price target on Proofpoint from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, July 22nd. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $85.00 price objective (up previously from $76.00) on shares of Proofpoint in a research report on Monday, July 25th. Zacks Investment Research downgraded Proofpoint from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Dougherty & Co raised their price objective on Proofpoint from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. Finally, Needham & Company LLC initiated coverage on Proofpoint in a research report on Monday, August 1st. They set a “buy” rating and a $88.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.44.
Shares of Proofpoint (NASDAQ:PFPT) opened at 70.06 on Friday. The company’s market capitalization is $2.94 billion. The firm’s 50 day moving average price is $75.60 and its 200-day moving average price is $65.57. Proofpoint has a 1-year low of $35.56 and a 1-year high of $80.68.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.13. Proofpoint had a negative return on equity of 120.27% and a negative net margin of 41.46%. The business had revenue of $89.90 million for the quarter, compared to the consensus estimate of $84.22 million. Analysts expect that Proofpoint will post $0.09 EPS for the current year.
In other Proofpoint news, EVP David Knight sold 3,000 shares of Proofpoint stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $78.14, for a total value of $234,420.00. Following the completion of the transaction, the executive vice president now directly owns 8,889 shares in the company, valued at $694,586.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Eric Hahn sold 5,000 shares of Proofpoint stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $72.90, for a total value of $364,500.00. Following the completion of the transaction, the chairman now owns 121,215 shares of the company’s stock, valued at $8,836,573.50. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its position in shares of Proofpoint by 5.9% in the second quarter. US Bancorp DE now owns 2,067 shares of the company’s stock worth $130,000 after buying an additional 115 shares during the last quarter. BlackRock Inc. increased its position in shares of Proofpoint by 122.6% in the first quarter. BlackRock Inc. now owns 2,684 shares of the company’s stock valued at $143,000 after buying an additional 1,478 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Proofpoint by 199.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,417 shares of the company’s stock valued at $152,000 after buying an additional 1,611 shares in the last quarter. BOKF NA acquired a new position in shares of Proofpoint during the second quarter valued at about $193,000. Finally, Mizuho Asset Management Co. Ltd. acquired a new position in shares of Proofpoint during the second quarter valued at about $197,000.
Proofpoint Company Profile
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations around the world. The Company’s security-as-a-service platform consists of a suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
Receive News & Ratings for Proofpoint Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint Inc. and related companies with MarketBeat.com's FREE daily email newsletter.