Proofpoint, Inc. (PFPT) Receives “Outperform” Rating from Wedbush
Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research note issued on Friday. They currently have a $104.00 price objective on the software maker’s stock. Wedbush’s target price points to a potential upside of 13.46% from the stock’s current price.
A number of other equities analysts have also recently commented on the company. Robert W. Baird reissued a “hold” rating and set a $95.00 target price on shares of Proofpoint in a report on Friday. Northland Securities reissued a “buy” rating and set a $100.00 target price on shares of Proofpoint in a report on Thursday. Evercore ISI reissued a “buy” rating and set a $105.00 target price on shares of Proofpoint in a report on Wednesday. ValuEngine raised Proofpoint from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $103.00 target price on shares of Proofpoint in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $94.22.
Shares of Proofpoint (PFPT) opened at 91.66 on Friday. Proofpoint has a 1-year low of $68.04 and a 1-year high of $94.33. The company’s market cap is $4.07 billion. 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 announced its earnings results on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $119.58 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The business’s revenue was up 36.0% compared to the same quarter last year. On average, equities analysts expect that Proofpoint will post $0.65 EPS for the current year.
In other Proofpoint news, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $87.69, for a total transaction of $717,567.27. Following the completion of the sale, the executive vice president now owns 15,195 shares of the company’s stock, valued at $1,332,449.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Eric Hahn sold 5,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $91.09, for a total value of $455,450.00. Following the sale, the chairman now directly owns 58,701 shares of the company’s stock, valued at approximately $5,347,074.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,549 shares of company stock valued at $11,072,191. 6.80% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new stake in Proofpoint during the second quarter worth $215,000. Wasatch Advisors Inc. boosted its position in shares of Proofpoint by 52.2% during the second quarter. Wasatch Advisors Inc. now owns 728,526 shares of the software maker’s stock worth $63,258,000 after buying an additional 249,919 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Proofpoint by 46.1% during the second quarter. Public Employees Retirement System of Ohio now owns 20,142 shares of the software maker’s stock worth $1,749,000 after buying an additional 6,357 shares during the period. Sterling Capital Management LLC boosted its position in shares of Proofpoint by 41.9% during the second quarter. Sterling Capital Management LLC now owns 33,497 shares of the software maker’s stock worth $2,909,000 after buying an additional 9,884 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Proofpoint by 6.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,771 shares of the software maker’s stock worth $327,000 after buying an additional 245 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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