Proofpoint Coverage Initiated by Analysts at William Blair (PFPT)
Analysts at William Blair assumed coverage on shares of Proofpoint (NASDAQ:PFPT) in a research report issued to clients and investors on Wednesday, AnalystRatings.NET reports. The firm set an “outperform” rating on the stock.
Proofpoint (NASDAQ:PFPT) traded up 3.11% during mid-day trading on Wednesday, hitting $36.85. 749,845 shares of the company’s stock traded hands. Proofpoint has a one year low of $12.52 and a one year high of $37.90. The stock’s 50-day moving average is $31.68 and its 200-day moving average is $29.56. The company’s market cap is $1.323 billion.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.36. The company had revenue of $34.50 million for the quarter, compared to the consensus estimate of $93.35 million. Proofpoint’s revenue was up 27.3% compared to the same quarter last year. On average, analysts predict that Proofpoint will post $-0.37 earnings per share for the current fiscal year.
In other Proofpoint news, EVP David Knight sold 6,000 shares of the stock on the open market in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $33.07, for a total value of $198,420.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on PFPT. Analysts at Stifel Nicolaus initiated coverage on shares of Proofpoint in a research note to investors on Wednesday. They set a “buy” rating and a $43.00 price target on the stock. Separately, analysts at Pacific Crest raised their price target on shares of Proofpoint from $35.00 to $39.00 in a research note to investors on Tuesday, January 7th. They now have an “outperform” rating on the stock. Finally, analysts at JMP Securities initiated coverage on shares of Proofpoint in a research note to investors on Friday, December 20th. They set an “outperform” rating and a $37.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Proofpoint has a consensus rating of “Buy” and a consensus target price of $34.45.
Proofpoint, Inc (NASDAQ:PFPT) is a security-as-a-service vendor that delivers data protection solutions, which helps medium- and large-sized organizations worldwide.
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