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.

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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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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