Proofpoint Receives Average Rating of “Buy” from Analysts (NASDAQ:PFPT)
Shares of Proofpoint (NASDAQ:PFPT) have been given an average rating of “Buy” by the fourteen ratings firms that are covering the stock, StockRatingsNetwork.com reports. One investment analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $43.83.
A number of research firms have recently commented on PFPT. Analysts at Wells Fargo & Co. initiated coverage on shares of Proofpoint in a research note on Friday, August 8th. They set an “outperform” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Proofpoint in a research note on Friday, July 25th. They now have a $47.00 price target on the stock, up previously from $46.00. Finally, 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.
Shares of Proofpoint (NASDAQ:PFPT) traded up 0.48% on Wednesday, hitting $39.88. 43,845 shares of the company’s stock traded hands. Proofpoint has a one year low of $24.04 and a one year high of $45.66. The stock has a 50-day moving average of $35.86 and a 200-day moving average of $35.45. The company’s market cap is $1.492 billion.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, July 24th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the 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. The company’s revenue for the quarter was up 45.9% on a year-over-year basis. Analysts expect that Proofpoint will post $-0.39 EPS for the current fiscal year.
Proofpoint, Inc (NASDAQ:PFPT) is a security-as-a-service vendor that delivers data protection solutions, which helps medium- and large-sized organizations worldwide.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.