Needham & Company LLC reiterated their buy rating on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research report released on Monday. Needham & Company LLC currently has a $115.00 price objective on the software maker’s stock.
Several other equities research analysts have also recently issued reports on PFPT. Wedbush reaffirmed an outperform rating and set a $104.00 target price on shares of Proofpoint in a research note on Friday. FBN Securities reaffirmed an outperform rating and set a $105.00 target price (up previously from $100.00) on shares of Proofpoint in a research note on Saturday. Piper Jaffray Companies set a $100.00 target price on shares of Proofpoint and gave the stock a buy rating in a research note on Sunday. BTIG Research reaffirmed a buy rating and set a $110.00 target price on shares of Proofpoint in a research note on Monday. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $103.00 target price on shares of Proofpoint in a research note on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $98.91.
Proofpoint (PFPT) opened at 91.67 on Monday. The company’s market cap is $4.07 billion. The firm’s 50-day moving average is $88.96 and its 200 day moving average is $83.71. Proofpoint has a 52-week low of $68.04 and a 52-week high of $97.00.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.05. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. The company had revenue of $122.30 million for the quarter, compared to analysts’ expectations of $119.58 million. During the same quarter in the previous year, the company posted $0.06 EPS. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. On average, equities research analysts predict that Proofpoint will post $0.65 EPS for the current fiscal year.
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In other Proofpoint news, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $91.09, for a total transaction of $455,450.00. Following the sale, the chairman now directly owns 58,701 shares in the company, valued at $5,347,074.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Knight sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total transaction of $272,280.00. Following the sale, the executive vice president now owns 16,874 shares in the company, valued at $1,531,484.24. The disclosure for this sale can be found here. Insiders sold 125,549 shares of company stock worth $11,072,191 in the last ninety days. 6.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Proofpoint by 9.7% during the second quarter. BlackRock Inc. now owns 3,503,427 shares of the software maker’s stock worth $304,204,000 after purchasing an additional 309,998 shares during the period. Vanguard Group Inc. increased its stake in Proofpoint by 2.3% during the second quarter. Vanguard Group Inc. now owns 3,392,578 shares of the software maker’s stock worth $294,577,000 after purchasing an additional 77,721 shares during the period. Artisan Partners Limited Partnership increased its stake in Proofpoint by 20.4% during the second quarter. Artisan Partners Limited Partnership now owns 2,786,122 shares of the software maker’s stock worth $241,919,000 after purchasing an additional 472,407 shares during the period. FMR LLC increased its stake in Proofpoint by 10.9% during the second quarter. FMR LLC now owns 961,745 shares of the software maker’s stock worth $83,508,000 after purchasing an additional 94,545 shares during the period. Finally, Macquarie Group Ltd. increased its stake in Proofpoint by 13.0% during the second quarter. Macquarie Group Ltd. now owns 942,966 shares of the software maker’s stock worth $81,878,000 after purchasing an additional 108,772 shares during the period.
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
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