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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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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.

5 Day Chart for NASDAQ:PFPT

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