Proofpoint, Inc. (PFPT) Earns Outperform Rating from Analysts at Cowen and Company
Equities researchers at Cowen and Company started coverage on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research note issued to investors on Thursday, The Fly reports. The firm set an “outperform” rating on the software maker’s stock.
A number of other research firms also recently commented on PFPT. Wedbush reaffirmed an “outperform” rating and set a $93.00 target price (down previously from $98.00) on shares of Proofpoint in a report on Friday, July 14th. ValuEngine raised Proofpoint from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Northland Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Proofpoint in a report on Friday, June 30th. Piper Jaffray Companies set a $90.00 target price on Proofpoint and gave the stock a “buy” rating in a report on Friday, April 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 target price on shares of Proofpoint in a report on Sunday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $92.91.
Proofpoint (NASDAQ PFPT) opened at 89.01 on Thursday. The company’s market cap is $3.95 billion. The company has a 50-day moving average of $87.74 and a 200-day moving average of $82.68. Proofpoint has a 52 week low of $68.04 and a 52 week high of $94.33.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.05. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The business had revenue of $122.30 million during the quarter, compared to the consensus estimate of $119.58 million. During the same quarter last year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 36.0% on a year-over-year basis. On average, equities analysts expect that Proofpoint will post $0.65 EPS for the current year.
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In related news, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $83.61, for a total transaction of $418,050.00. Following the transaction, the chairman now owns 71,460 shares of the company’s stock, valued at approximately $5,974,770.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Knight sold 3,000 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $92.45, for a total value of $277,350.00. Following the transaction, the executive vice president now directly owns 16,874 shares in the company, valued at approximately $1,560,001.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,116 shares of company stock worth $9,934,151. 6.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of PFPT. D.A. Davidson & CO. increased its stake in shares of Proofpoint by 57.9% in the second quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after buying an additional 431 shares during the period. Fortaleza Asset Management Inc. increased its stake in shares of Proofpoint by 22.4% in the second quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock valued at $147,000 after buying an additional 310 shares during the period. Creative Planning increased its stake in shares of Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after buying an additional 154 shares during the period. Legato Capital Management LLC bought a new stake in shares of Proofpoint during the second quarter valued at $204,000. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Proofpoint by 400.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock valued at $185,000 after buying an additional 2,000 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.
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