Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating reaffirmed by analysts at Northland Securities in a research report issued to clients and investors on Friday. They currently have a $100.00 price target on the software maker’s stock. Northland Securities’ price objective points to a potential upside of 17.15% from the company’s current price.

Several other research analysts have also issued reports on PFPT. Goldman Sachs Group, Inc. (The) lowered shares of Proofpoint from a “neutral” rating to a “sell” rating and set a $69.00 price target for the company. in a report on Thursday, March 23rd. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Proofpoint in a report on Monday, April 3rd. Imperial Capital restated an “outperform” rating and set a $100.00 price target on shares of Proofpoint in a report on Friday, April 14th. DA Davidson upgraded shares of Proofpoint from a “neutral” rating to a “buy” rating and raised their price target for the stock from $83.00 to $90.00 in a report on Wednesday, April 19th. Finally, Robert W. Baird lowered shares of Proofpoint from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $92.00 to $77.00 in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have issued a buy rating to the company. Proofpoint presently has an average rating of “Buy” and an average price target of $87.52.

Shares of Proofpoint (NASDAQ:PFPT) traded down 1.69% during midday trading on Friday, reaching $85.36. 275,310 shares of the company’s stock traded hands. Proofpoint has a 52-week low of $63.01 and a 52-week high of $94.33. The stock has a 50-day moving average price of $86.61 and a 200-day moving average price of $79.84. The stock’s market cap is $3.73 billion.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings results on Thursday, April 20th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. Proofpoint had a negative net margin of 25.63% and a negative return on equity of 126.46%. The firm had revenue of $113.30 million during the quarter, compared to analyst estimates of $110.60 million. During the same quarter last year, the business earned ($0.09) EPS. The company’s revenue was up 43.4% compared to the same quarter last year. Analysts forecast that Proofpoint will post $0.59 earnings per share for the current year.

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In related news, EVP Tracey Newell sold 8,183 shares of Proofpoint stock in a transaction on Monday, April 10th. The shares were sold at an average price of $73.83, for a total value of $604,150.89. Following the completion of the sale, the executive vice president now owns 26,529 shares of the company’s stock, valued at approximately $1,958,636.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of Proofpoint stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $76.75, for a total transaction of $383,750.00. Following the completion of the sale, the chairman now directly owns 78,626 shares of the company’s stock, valued at approximately $6,034,545.50. The disclosure for this sale can be found here. In the last three months, insiders sold 189,732 shares of company stock valued at $15,518,892. 6.80% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Proofpoint by 6.7% in the first quarter. Vanguard Group Inc. now owns 3,314,857 shares of the software maker’s stock worth $246,493,000 after buying an additional 207,412 shares in the last quarter. BlackRock Inc. increased its position in Proofpoint by 22,439.7% in the first quarter. BlackRock Inc. now owns 3,193,429 shares of the software maker’s stock worth $237,464,000 after buying an additional 3,179,261 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Proofpoint by 161.6% in the first quarter. Artisan Partners Limited Partnership now owns 2,313,715 shares of the software maker’s stock worth $172,048,000 after buying an additional 1,429,192 shares in the last quarter. Macquarie Group Ltd. increased its position in Proofpoint by 17.0% in the fourth quarter. Macquarie Group Ltd. now owns 852,205 shares of the software maker’s stock worth $60,208,000 after buying an additional 123,655 shares in the last quarter. Finally, State Street Corp increased its position in Proofpoint by 3.3% in the first quarter. State Street Corp now owns 791,294 shares of the software maker’s stock worth $58,840,000 after buying an additional 25,368 shares in the last quarter.

Proofpoint Company Profile

Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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