Proofpoint Inc. (PFPT) Downgraded by Zacks Investment Research to Hold
Proofpoint Inc. (NASDAQ:PFPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Proofpoint, Inc. is a leading security-as-a-service provider that focuses on cloud-based solutions for threat protection, compliance, archiving & governance, and secure communications. Organizations around the world depend on Proofpoint’s expertise, patented technologies, and on-demand delivery system to protect against phishing, malware and spam, safeguard privacy, encrypt sensitive information, and archive and govern messages and critical enterprise information. “
PFPT has been the subject of a number of other reports. Wunderlich initiated coverage on Proofpoint in a research note on Tuesday, September 13th. They issued a “buy” rating and a $90.00 target price for the company. Morgan Stanley restated an “overweight” rating on shares of Proofpoint in a research note on Wednesday, June 29th. Needham & Company LLC initiated coverage on Proofpoint in a research note on Monday, August 1st. They issued a “buy” rating and a $88.00 target price for the company. FBR & Co restated an “outperform” rating on shares of Proofpoint in a research note on Thursday, August 25th. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $85.00 target price on shares of Proofpoint in a research note on Thursday, June 9th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Proofpoint presently has an average rating of “Buy” and an average price target of $79.42.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/proofpoint-inc-pfpt-downgraded-by-zacks-investment-research-to-hold.html
Shares of Proofpoint (NASDAQ:PFPT) opened at 74.64 on Wednesday. The company has a 50-day moving average of $76.05 and a 200 day moving average of $63.08. Proofpoint has a 12-month low of $35.56 and a 12-month high of $80.68. The firm’s market cap is $3.14 billion.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, July 21st. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.13. The business earned $89.90 million during the quarter, compared to analyst estimates of $84.22 million. Proofpoint had a negative return on equity of 120.27% and a negative net margin of 41.46%. Equities analysts predict that Proofpoint will post $0.09 EPS for the current year.
In related news, Chairman Eric Hahn sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $59.70, for a total value of $298,500.00. Following the transaction, the chairman now owns 118,164 shares in the company, valued at $7,054,390.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tracey Newell sold 9,892 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $76.99, for a total value of $761,585.08. Following the completion of the transaction, the executive vice president now owns 36,325 shares in the company, valued at approximately $2,796,661.75. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of PFPT. Macquarie Group Ltd. boosted its position in Proofpoint by 45.3% in the second quarter. Macquarie Group Ltd. now owns 482,327 shares of the company’s stock valued at $30,430,000 after buying an additional 150,284 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Proofpoint during the second quarter worth about $839,000. Schwab Charles Investment Management Inc. boosted its position in shares of Proofpoint by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 140,336 shares of the company’s stock worth $8,854,000 after buying an additional 6,118 shares during the period. Stifel Financial Corp boosted its position in shares of Proofpoint by 6.2% in the second quarter. Stifel Financial Corp now owns 91,707 shares of the company’s stock worth $5,787,000 after buying an additional 5,394 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Proofpoint by 4.0% in the second quarter. Amalgamated Bank now owns 4,314 shares of the company’s stock worth $324,000 after buying an additional 164 shares during the period.
Proofpoint Company Profile
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations around the world. The Company’s security-as-a-service platform consists of a suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
Receive News & Ratings for Proofpoint Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint Inc. and related companies with MarketBeat.com's FREE daily email newsletter.