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Equities researchers at Imperial Capital cut their price objective on shares of Proofpoint (NASDAQ:PFPT) from $45.00 to $40.00 in a research report issued on Friday, ARN reports. The firm currently has an “outperform” rating on the stock. Imperial Capital’s price target indicates a potential upside of 38.17% from the company’s current price.

Proofpoint (NASDAQ:PFPT) traded down 0.36% during mid-day trading on Friday, hitting $28.845. The stock had a trading volume of 128,839 shares. Proofpoint has a one year low of $17.01 and a one year high of $45.66. The stock’s 50-day moving average is $34.14 and its 200-day moving average is $34.30. The company’s market cap is $1.060 billion.

Proofpoint (NASDAQ:PFPT) last announced its earnings results on Wednesday, April 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. The company had revenue of $42.70 million for the quarter, compared to the consensus estimate of $40.70 million. On average, analysts predict that Proofpoint will post $-0.44 earnings per share for the current fiscal year.

In other Proofpoint news, EVP David Knight unloaded 6,000 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $29.64, for a total transaction of $177,840.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. initiated coverage on shares of Proofpoint in a research note on Friday, April 4th. They set a “buy” rating and a $46.00 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Proofpoint from $47.00 to $49.00 in a research note on Monday, March 10th. They now have an “outperform” rating on the stock. Finally, analysts at Sterne Agee initiated coverage on shares of Proofpoint in a research note on Tuesday, February 4th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Proofpoint currently has a consensus rating of “Buy” and an average target price of $43.30.

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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