Citigroup Inc. Reiterates Buy Rating for Proofpoint (PFPT)
Proofpoint (NASDAQ:PFPT)‘s stock had its “buy” rating reaffirmed by stock analysts at Citigroup Inc. in a report issued on Friday. They currently have a $47.00 price target on the stock, up from their previous price target of $46.00. Citigroup Inc.’s price target points to a potential upside of 24.57% from the company’s current price.
Shares of Proofpoint (NASDAQ:PFPT) traded up 2.95% on Friday, hitting $37.73. 1,126,613 shares of the company’s stock traded hands. Proofpoint has a 1-year low of $24.04 and a 1-year high of $45.66. The stock’s 50-day moving average is $35.45 and its 200-day moving average is $35.4. The company’s market cap is $1.396 billion.
Proofpoint (NASDAQ:PFPT) last released its earnings data on Thursday, July 24th. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.32 by $0.40. The company had revenue of $46.40 million for the quarter, compared to the consensus estimate of $112.54 million. Proofpoint’s revenue was up 45.9% compared to the same quarter last year. Analysts expect that Proofpoint will post $-0.43 EPS for the current fiscal year.
PFPT has been the subject of a number of other recent research reports. Analysts at Goldman Sachs initiated coverage on shares of Proofpoint in a research note on Wednesday, July 16th. They set a “buy” rating and a $42.00 price target on the stock. Separately, analysts at Sterne Agee downgraded shares of Proofpoint from an “outperform” rating to an “in-line” rating in a research note on Thursday, July 3rd. They now have a $40.00 price target on the stock. Finally, analysts at Sterne Agee upgraded shares of Proofpoint from a “neutral” rating to a “buy” rating in a research note on Monday, June 2nd. They now have a $40.00 price target on the stock, up previously from $35.00. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.83.
In other Proofpoint news, EVP David Knight unloaded 6,000 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $33.26, for a total transaction of $199,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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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