Proofpoint Inc. (PFPT) Receives Consensus Rating of “Buy” from Brokerages
Shares of Proofpoint Inc. (NASDAQ:PFPT) have been assigned a consensus recommendation of “Buy” from the twenty-nine analysts that are currently covering the firm. Three investment analysts have rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $81.05.
Several equities research analysts have recently issued reports on PFPT shares. Dougherty & Co lifted their price objective on shares of Proofpoint from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. Stifel Nicolaus lifted their price objective on shares of Proofpoint from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. Wunderlich lifted their price objective on shares of Proofpoint from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. Wedbush reiterated a “buy” rating and set a $78.00 price objective on shares of Proofpoint in a research report on Monday, July 11th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Proofpoint in a research report on Wednesday, June 29th.
Shares of Proofpoint (NASDAQ:PFPT) traded up 1.78% during midday trading on Tuesday, hitting $71.55. 371,878 shares of the stock were exchanged. Proofpoint has a 1-year low of $35.56 and a 1-year high of $80.68. The firm has a 50-day moving average of $75.24 and a 200-day moving average of $66.01. The company’s market capitalization is $3.01 billion.
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Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.13. The firm had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $84.22 million. Proofpoint had a negative net margin of 41.46% and a negative return on equity of 120.27%. On average, equities analysts expect that Proofpoint will post $0.09 EPS for the current year.
In related news, SVP Robert Darren Lee sold 2,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $76.05, for a total value of $152,100.00. Following the completion of the sale, the senior vice president now directly owns 1,239 shares of the company’s stock, valued at $94,225.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tracey Newell sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the executive vice president now directly owns 36,217 shares of the company’s stock, valued at $2,716,275. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in Proofpoint by 5.9% in the second quarter. US Bancorp DE now owns 2,067 shares of the company’s stock worth $130,000 after buying an additional 115 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Proofpoint by 199.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,417 shares of the company’s stock worth $152,000 after buying an additional 1,611 shares in the last quarter. BlackRock Inc. increased its position in shares of Proofpoint by 122.6% in the first quarter. BlackRock Inc. now owns 2,684 shares of the company’s stock worth $143,000 after buying an additional 1,478 shares in the last quarter. BOKF NA purchased a new position in shares of Proofpoint during the second quarter worth approximately $193,000. Finally, Mizuho Asset Management Co. Ltd. purchased a new position in shares of Proofpoint during the second quarter worth approximately $197,000.
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.
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