Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research report issued to clients and investors on Monday. They presently have a $110.00 price target on the software maker’s stock. BTIG Research’s target price points to a potential upside of 22.15% from the company’s current price.
Other analysts also recently issued research reports about the company. Needham & Company LLC began coverage on Proofpoint in a research note on Friday, July 21st. They set a “buy” rating and a $115.00 price objective on the stock. Zacks Investment Research raised Proofpoint from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Tuesday, August 1st. Deutsche Bank AG raised their price objective on Proofpoint from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. FBN Securities began coverage on Proofpoint in a research note on Monday, May 22nd. They set an “outperform” rating and a $95.00 price objective on the stock. Finally, Northland Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Proofpoint in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $98.91.
Shares of Proofpoint (PFPT) opened at 90.05 on Monday. The company’s market cap is $4.00 billion. The stock has a 50 day moving average price of $89.03 and a 200-day moving average price of $83.76. Proofpoint has a 1-year low of $68.04 and a 1-year high of $97.00.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. The company had revenue of $122.30 million for the quarter, compared to the consensus estimate of $119.58 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 EPS. Analysts predict that Proofpoint will post $0.65 earnings per share for the current fiscal year.
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In other news, EVP David Knight sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $84.54, for a total value of $253,620.00. Following the completion of the transaction, the executive vice president now owns 16,874 shares in the company, valued at approximately $1,426,527.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $87.11, for a total value of $3,484,400.00. Following the completion of the transaction, the chief executive officer now owns 88,551 shares of the company’s stock, valued at approximately $7,713,677.61. The disclosure for this sale can be found here. Insiders sold a total of 125,549 shares of company stock valued at $11,072,191 in the last 90 days. 6.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PFPT. D.A. Davidson & CO. grew its holdings in shares of Proofpoint by 57.9% in the 2nd quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after acquiring an additional 431 shares in the last quarter. Fortaleza Asset Management Inc. grew its holdings in shares of Proofpoint by 22.4% in the 2nd quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock valued at $147,000 after acquiring an additional 310 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Proofpoint by 400.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock valued at $185,000 after acquiring an additional 2,000 shares in the last quarter. Creative Planning grew its holdings in shares of Proofpoint by 7.4% in the 2nd quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after acquiring an additional 154 shares in the last quarter. Finally, Legato Capital Management LLC bought a new position in shares of Proofpoint in the 2nd quarter valued at about $204,000.
Proofpoint Company Profile
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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