Proofpoint, Inc. (PFPT) Stock Rating Reaffirmed by Stifel Nicolaus
Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating restated by analysts at Stifel Nicolaus in a report issued on Friday. They presently have a $100.00 target price on the software maker’s stock. Stifel Nicolaus’ target price indicates a potential upside of 8.77% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. Robert W. Baird reissued a “hold” rating and set a $95.00 price target on shares of Proofpoint in a research report on Friday. Wedbush reissued an “outperform” rating and set a $104.00 price target on shares of Proofpoint in a research report on Friday. Deutsche Bank AG upped their price target on Proofpoint from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC assumed coverage on Proofpoint in a research report on Friday, July 21st. They set a “buy” rating and a $115.00 price target on the stock. Finally, Zacks Investment Research raised Proofpoint from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $95.09.
Shares of Proofpoint (NASDAQ:PFPT) traded up 0.31% during trading on Friday, hitting $91.94. 1,296,665 shares of the stock were exchanged. The stock’s 50 day moving average price is $89.04 and its 200 day moving average price is $83.68. The stock’s market cap is $4.08 billion. Proofpoint has a one year low of $68.04 and a one year high of $97.00.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.05. The business had revenue of $122.30 million for the quarter, compared to analyst estimates of $119.58 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The business’s revenue was up 36.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. Equities research analysts predict 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 firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $91.09, for a total transaction of $455,450.00. Following the completion of the transaction, the chairman now owns 58,701 shares of the company’s stock, valued at $5,347,074.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Knight sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $84.54, for a total value of $253,620.00. Following the transaction, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at approximately $1,426,527.96. The disclosure for this sale can be found here. In the last three months, insiders sold 125,549 shares of company stock valued at $11,072,191. Company 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 stake in Proofpoint by 57.9% during 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 in the last quarter. Fortaleza Asset Management Inc. boosted its stake in Proofpoint by 22.4% during 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 in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Proofpoint by 400.0% during 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 in the last quarter. Creative Planning boosted its stake in Proofpoint by 7.4% during 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 in the last quarter. Finally, Legato Capital Management LLC bought a new position in Proofpoint during the second quarter valued at about $204,000.
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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