Proofpoint, Inc. (PFPT) Stock Rating Reaffirmed by Needham & Company LLC
Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research report issued on Monday. They presently have a $115.00 target price on the software maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 26.11% from the stock’s current price.
A number of other equities research analysts also recently weighed in on PFPT. FBN Securities initiated coverage on shares of Proofpoint in a research note on Monday, May 22nd. They set an “outperform” rating and a $95.00 price target on the stock. ValuEngine upgraded shares of Proofpoint from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Susquehanna Bancshares Inc initiated coverage on shares of Proofpoint in a research note on Wednesday, June 7th. They set a “positive” rating and a $106.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of Proofpoint in a research note on Wednesday, June 7th. They set a “buy” rating and a $90.00 price target on the stock. Finally, Northland Securities reiterated a “buy” rating and set a $100.00 price target on shares of Proofpoint in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $98.91.
Shares of Proofpoint (NASDAQ PFPT) traded down 0.82% on Monday, hitting $91.19. 492,748 shares of the stock traded hands. The stock has a 50-day moving average price of $88.96 and a 200 day moving average price of $83.69. Proofpoint has a 12-month low of $68.04 and a 12-month high of $97.00. The stock’s market cap is $4.05 billion.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $122.30 million for the quarter, compared to the consensus estimate of $119.58 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The business’s revenue was up 36.0% compared to the same quarter last year. On average, analysts anticipate that Proofpoint will post $0.65 earnings per share for the current fiscal year.
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In other Proofpoint news, EVP Tracey Newell sold 8,183 shares of the business’s stock in a transaction dated 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 directly owns 15,195 shares of the company’s stock, valued at approximately $1,332,449.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction dated 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 $5,347,074.09. The disclosure for this sale can be found here. Insiders sold 125,549 shares of company stock valued at $11,072,191 over the last ninety days. 6.80% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Nomura Holdings Inc. bought a new stake in Proofpoint during the 1st quarter worth about $394,000. Credit Agricole S A bought a new stake in Proofpoint during the 1st quarter worth about $871,000. Nordea Investment Management AB bought a new stake in Proofpoint during the 1st quarter worth about $1,485,000. Swiss National Bank raised its holdings in Proofpoint by 1.2% during the 1st quarter. Swiss National Bank now owns 66,452 shares of the software maker’s stock worth $4,941,000 after purchasing an additional 800 shares during the last quarter. Finally, Commerce Bank raised its holdings in Proofpoint by 13.0% during the 1st quarter. Commerce Bank now owns 4,000 shares of the software maker’s stock worth $298,000 after purchasing an additional 460 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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