Proofpoint, Inc. (PFPT) Rating Reiterated by Robert W. Baird
Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “hold” rating reaffirmed by Robert W. Baird in a report issued on Friday. They presently have a $95.00 price target on the software maker’s stock. Robert W. Baird’s price objective suggests a potential upside of 3.33% from the stock’s previous close.
The analysts wrote, “We attend Proofpoint’s analyst day in New York where management introduced a new 2020 outlook with higher revenue targets. Proofpoint continues to benefit from the proliferation of advanced email-bound attacks and the shift to public cloud. We view the latent cross-sell opportunity within Proofpoint’s customer base as significant.””
A number of other analysts have also issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $102.00 price target (up from $97.00) on shares of Proofpoint in a research note on Thursday, July 20th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Proofpoint in a research note on Friday, June 23rd. Northland Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Proofpoint in a research note on Friday, June 30th. FBN Securities initiated coverage on Proofpoint in a research note on Monday, May 22nd. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, ValuEngine raised Proofpoint from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One equities research 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 presently has an average rating of “Buy” and a consensus target price of $95.52.
Proofpoint (NASDAQ:PFPT) traded up 0.31% on Friday, reaching $91.94. The company had a trading volume of 1,296,665 shares. Proofpoint has a 1-year low of $68.04 and a 1-year high of $97.00. The stock’s 50 day moving average is $89.04 and its 200-day moving average is $83.68. The stock’s market capitalization is $4.08 billion.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. The firm 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. On average, equities analysts predict that Proofpoint will post $0.65 EPS for the current fiscal year.
WARNING: This piece was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was stolen and republished in violation of international copyright & trademark laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/09/09/proofpoint-inc-pfpt-rating-reiterated-by-robert-w-baird.html.
In other news, EVP David Knight sold 3,000 shares of Proofpoint stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total value of $272,280.00. Following the completion of the sale, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at $1,531,484.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Eric Hahn sold 5,000 shares of Proofpoint stock in a transaction on Friday, August 25th. The shares were sold at an average price of $91.09, for a total value of $455,450.00. Following the completion of the sale, the chairman now directly owns 58,701 shares of the company’s stock, valued at $5,347,074.09. The disclosure for this sale can be found here. Insiders sold 125,549 shares of company stock worth $11,072,191 in the last 90 days. Company insiders own 6.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. grew 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 in the last quarter. Fortaleza Asset Management Inc. grew 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 in the last quarter. DekaBank Deutsche Girozentrale grew 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 in the last quarter. Creative Planning grew 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 in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of Proofpoint in the second quarter valued at $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.
Receive News & Ratings for Proofpoint Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint Inc. and related companies with MarketBeat.com's FREE daily email newsletter.