Proofpoint, Inc. (PFPT) Receives Average Recommendation of “Buy” from Analysts
Shares of Proofpoint, Inc. (NASDAQ:PFPT) have earned a consensus rating of “Buy” from the twenty-eight analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $100.70.
A number of equities analysts recently commented on PFPT shares. Morgan Stanley reiterated an “overweight” rating and set a $102.00 price objective (up previously from $97.00) on shares of Proofpoint in a research report on Thursday, July 20th. Stifel Nicolaus reiterated a “buy” rating on shares of Proofpoint in a research report on Friday, June 23rd. Northland Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Proofpoint in a research report on Thursday, September 7th. Robert W. Baird reiterated a “hold” rating and set a $95.00 price objective on shares of Proofpoint in a research report on Friday, September 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Proofpoint in a research report on Monday, September 11th.
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Proofpoint (NASDAQ:PFPT) traded down 0.50% during trading on Thursday, hitting $93.72. The stock had a trading volume of 173,466 shares. The company’s market cap is $4.16 billion. The company’s 50 day moving average is $91.20 and its 200-day moving average is $86.25. Proofpoint has a 12 month low of $68.45 and a 12 month high of $97.00.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The firm had revenue of $122.30 million for the quarter, compared to the consensus estimate of $119.58 million. During the same quarter last year, the business posted $0.06 earnings per share. The firm’s revenue was up 36.0% compared to the same quarter last year. On average, equities research analysts predict that Proofpoint will post $0.65 earnings per share for the current year.
In related news, EVP Tracey Newell sold 8,183 shares of Proofpoint stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $94.82, for a total value of $775,912.06. Following the completion of the transaction, the executive vice president now directly owns 25,001 shares in the company, valued at $2,370,594.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction on Friday, October 6th. The shares were sold at an average price of $92.35, for a total value of $3,694,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,549 shares of company stock valued at $15,226,339. 6.80% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in PFPT. Comerica Bank purchased a new position in Proofpoint in the first quarter valued at $1,001,000. Karp Capital Management Corp purchased a new position in Proofpoint in the first quarter valued at $223,000. Envestnet Asset Management Inc. boosted its holdings in Proofpoint by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock valued at $215,000 after purchasing an additional 446 shares during the period. American International Group Inc. boosted its holdings in Proofpoint by 5.2% in the first quarter. American International Group Inc. now owns 24,709 shares of the software maker’s stock valued at $1,837,000 after purchasing an additional 1,229 shares during the period. Finally, Credit Agricole S A purchased a new position in Proofpoint in the first quarter valued at $871,000.
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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