Proofpoint, Inc. (PFPT) Price Target Raised to $102.00 at Morgan Stanley
Proofpoint, Inc. (NASDAQ:PFPT) had its price target hoisted by Morgan Stanley from $97.00 to $102.00 in a report released on Thursday. The firm currently has an “overweight” rating on the software maker’s stock. Morgan Stanley’s target price points to a potential upside of 10.29% from the stock’s current price.
Several other equities analysts have also weighed in on PFPT. Wedbush reissued an “outperform” rating and issued a $93.00 price objective (down from $98.00) on shares of Proofpoint in a research report on Friday, July 14th. Piper Jaffray Companies set a $90.00 price target on shares of Proofpoint and gave the company a “buy” rating in a research note on Friday, April 21st. Stifel Nicolaus restated a “buy” rating and issued a $90.00 price target on shares of Proofpoint in a research note on Sunday, April 23rd. Susquehanna Bancshares Inc started coverage on shares of Proofpoint in a research note on Wednesday, June 7th. They issued a “positive” rating and a $106.00 price target on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $95.00 price target on shares of Proofpoint in a research note on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Proofpoint has an average rating of “Buy” and a consensus target price of $88.70.
Shares of Proofpoint (PFPT) traded down 0.74% on Thursday, reaching $92.48. 773,094 shares of the company traded hands. Proofpoint has a 52-week low of $64.62 and a 52-week high of $94.33. The stock’s market cap is $4.04 billion. The stock has a 50 day moving average of $87.73 and a 200 day moving average of $81.44.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, April 20th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $110.60 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was up 43.4% compared to the same quarter last year. On average, analysts expect that Proofpoint will post $0.59 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “Proofpoint, Inc. (PFPT) Price Target Raised to $102.00 at Morgan Stanley” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/07/20/proofpoint-inc-pfpt-price-target-raised-to-102-00-at-morgan-stanley.html.
In other news, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $80.38, for a total value of $3,215,200.00. Following the sale, the chief executive officer now directly owns 61,780 shares in the company, valued at approximately $4,965,876.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $84.14, for a total transaction of $688,517.62. Following the completion of the sale, the executive vice president now owns 14,730 shares in the company, valued at $1,239,382.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,549 shares of company stock worth $16,234,464. 6.80% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Legato Capital Management LLC bought a new stake in Proofpoint during the second quarter worth $204,000. Aperio Group LLC increased its stake in Proofpoint by 19.8% in the second quarter. Aperio Group LLC now owns 3,591 shares of the software maker’s stock worth $312,000 after buying an additional 594 shares during the last quarter. Crow Point Partners LLC acquired a new position in shares of Proofpoint during the second quarter worth about $757,000. Creative Planning raised its position in shares of Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after buying an additional 154 shares during the period. Finally, Handelsinvest Investeringsforvaltning raised its position in shares of Proofpoint by 79.2% in the second quarter. Handelsinvest Investeringsforvaltning now owns 34,400 shares of the software maker’s stock worth $2,987,000 after buying an additional 15,200 shares during the period.
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.
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.