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.

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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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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