Proofpoint, Inc. (PFPT) Given “Outperform” Rating at FBN Securities
Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “outperform” rating restated by investment analysts at FBN Securities in a research report issued to clients and investors on Saturday. They presently have a $105.00 target price on the software maker’s stock, up from their previous target price of $100.00. FBN Securities’ target price points to a potential upside of 14.20% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. Northland Securities reissued a “buy” rating and set a $100.00 price objective on shares of Proofpoint in a research note on Friday, June 30th. Stifel Nicolaus reissued a “buy” rating on shares of Proofpoint in a research note on Friday, June 23rd. Evercore ISI set a $105.00 price objective on shares of Proofpoint and gave the stock a “buy” rating in a research note on Friday, July 28th. Needham & Company LLC initiated coverage on shares of Proofpoint in a research note on Friday, July 21st. They set a “buy” rating and a $115.00 price objective on the stock. Finally, Piper Jaffray Companies set a $100.00 price objective on shares of Proofpoint and gave the stock a “buy” rating in a research note on Thursday, July 27th. One investment 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’s stock. The company currently has an average rating of “Buy” and a consensus target price of $95.52.
Proofpoint (NASDAQ PFPT) opened at 91.94 on Friday. The company’s market cap is $4.08 billion. Proofpoint has a 12 month low of $68.04 and a 12 month high of $97.00. The company has a 50-day moving average of $89.04 and a 200 day moving average of $83.68.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.12 by $0.05. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. The business had revenue of $122.30 million for the quarter, compared to analyst estimates of $119.58 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Proofpoint’s quarterly revenue was up 36.0% on a year-over-year basis. On average, equities analysts forecast that Proofpoint will post $0.65 earnings per share for the current fiscal year.
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In other news, EVP David Knight sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $84.54, for a total transaction of $253,620.00. Following the completion of the transaction, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at $1,426,527.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bhagwat Swaroop sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $85.17, for a total transaction of $425,850.00. Following the sale, the executive vice president now directly owns 13,161 shares of the company’s stock, valued at $1,120,922.37. The disclosure for this sale can be found here. Insiders have sold 125,549 shares of company stock valued at $11,072,191 over the last three months. 6.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in PFPT. BlackRock Inc. increased its holdings in Proofpoint by 22,439.7% during the first quarter. BlackRock Inc. now owns 3,193,429 shares of the software maker’s stock valued at $237,464,000 after buying an additional 3,179,261 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Proofpoint by 161.6% during the first quarter. Artisan Partners Limited Partnership now owns 2,313,715 shares of the software maker’s stock valued at $172,048,000 after buying an additional 1,429,192 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in Proofpoint by 249.7% during the second quarter. TIAA CREF Investment Management LLC now owns 823,521 shares of the software maker’s stock valued at $71,506,000 after buying an additional 588,015 shares during the last quarter. ETF Managers Group LLC purchased a new stake in Proofpoint during the second quarter valued at approximately $43,157,000. Finally, Teachers Advisors LLC increased its holdings in Proofpoint by 86.8% during the second quarter. Teachers Advisors LLC now owns 549,680 shares of the software maker’s stock valued at $47,729,000 after buying an additional 255,391 shares during the last quarter.
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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