Proofpoint, Inc. (PFPT) Earns Buy Rating from Northland Securities
Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating reaffirmed by research analysts at Northland Securities in a report released on Thursday. They currently have a $100.00 price objective on the software maker’s stock. Northland Securities’ target price suggests a potential upside of 9.10% from the stock’s current price.
Several other equities research analysts also recently issued reports on PFPT. FBN Securities started coverage on Proofpoint in a report on Monday, May 22nd. They set an “outperform” rating and a $95.00 price objective on the stock. ValuEngine upgraded Proofpoint from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Susquehanna Bancshares Inc started coverage on Proofpoint in a report on Wednesday, June 7th. They set a “positive” rating and a $106.00 price objective on the stock. Stifel Nicolaus started coverage on Proofpoint in a report on Wednesday, June 7th. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Wedbush restated an “outperform” rating and set a $93.00 price objective (down from $98.00) on shares of Proofpoint in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $93.43.
Shares of Proofpoint (NASDAQ:PFPT) traded up 1.01% during trading on Thursday, reaching $91.66. The company had a trading volume of 472,830 shares. The company’s market capitalization is $4.07 billion. Proofpoint has a 52-week low of $68.04 and a 52-week high of $94.33. The firm has a 50-day moving average price of $89.05 and a 200-day moving average price of $83.62.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) 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 company had revenue of $122.30 million for the quarter, compared to the consensus estimate of $119.58 million. During the same period in the previous year, the business earned $0.06 EPS. Proofpoint’s revenue for the quarter was up 36.0% compared to the same quarter last year. On average, analysts predict that Proofpoint will post $0.65 EPS for the current fiscal year.
In related news, EVP Bhagwat Swaroop sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $85.17, for a total transaction of $425,850.00. Following the completion of the transaction, the executive vice president now owns 13,161 shares in the company, valued at approximately $1,120,922.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Knight sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $90.76, for a total value of $272,280.00. Following the transaction, the executive vice president now owns 16,874 shares of the company’s stock, valued at approximately $1,531,484.24. The disclosure for this sale can be found here. Insiders have sold a total of 125,549 shares of company stock valued at $11,072,191 in the last 90 days. Insiders own 6.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PFPT. D.A. Davidson & CO. boosted its position in Proofpoint by 57.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock worth $102,000 after acquiring an additional 431 shares during the period. Fortaleza Asset Management Inc. boosted its position in Proofpoint by 22.4% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock worth $147,000 after acquiring an additional 310 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Proofpoint by 400.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock worth $185,000 after acquiring an additional 2,000 shares during the period. Creative Planning boosted its position in Proofpoint by 7.4% during the 2nd quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after acquiring an additional 154 shares during the period. Finally, Legato Capital Management LLC acquired a new position in Proofpoint during the 2nd quarter worth $204,000.
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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