Proofpoint, Inc. (PFPT) Now Covered by UBS AG
Investment analysts at UBS AG began coverage on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a report released on Tuesday, The Fly reports. The brokerage set a “market perform” rating on the software maker’s stock.
Several other research analysts also recently issued reports on PFPT. Royal Bank Of Canada restated a “buy” rating and set a $103.00 price objective on shares of Proofpoint in a research report on Thursday, August 31st. Imperial Capital restated an “outperform” rating and set a $102.00 price objective (up from $100.00) on shares of Proofpoint in a research report on Wednesday, August 2nd. Cowen and Company began coverage on Proofpoint in a research report on Thursday, August 17th. They set an “outperform” rating and a $105.00 price objective for the company. BidaskClub upgraded Proofpoint from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Finally, Piper Jaffray Companies set a $100.00 price objective on Proofpoint and gave the stock a “buy” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $101.70.
Shares of Proofpoint (NASDAQ:PFPT) traded up 2.02% during trading on Tuesday, hitting $92.41. The company’s stock had a trading volume of 532,940 shares. Proofpoint has a one year low of $69.19 and a one year high of $97.92. The company has a 50-day moving average price of $91.29 and a 200-day moving average price of $87.35. The stock’s market cap is $4.11 billion.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The business had revenue of $134.30 million for the quarter, compared to analyst estimates of $131.48 million. Proofpoint had a negative return on equity of 152.53% and a negative net margin of 20.19%. The company’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS. Equities analysts predict that Proofpoint will post $0.75 EPS for the current fiscal year.
In other news, CEO Gary Steele sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $89.54, for a total transaction of $3,581,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,551 shares in the company, valued at approximately $7,928,856.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tracey Newell sold 8,183 shares of the company’s 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 sale, the executive vice president now owns 25,001 shares of the company’s stock, valued at $2,370,594.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,549 shares of company stock valued at $15,226,339. Insiders own 6.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PFPT. Karp Capital Management Corp purchased a new stake in Proofpoint during the 1st quarter worth $223,000. Teachers Advisors LLC boosted its position in Proofpoint by 1.2% during the 1st quarter. Teachers Advisors LLC now owns 294,289 shares of the software maker’s stock worth $21,883,000 after purchasing an additional 3,539 shares during the period. PNC Financial Services Group Inc. boosted its position in Proofpoint by 48.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,702 shares of the software maker’s stock worth $275,000 after purchasing an additional 1,202 shares during the period. Legal & General Group Plc boosted its position in Proofpoint by 3.1% during the 1st quarter. Legal & General Group Plc now owns 14,253 shares of the software maker’s stock worth $1,060,000 after purchasing an additional 435 shares during the period. Finally, Vanguard Group Inc. boosted its position in Proofpoint by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 3,314,857 shares of the software maker’s stock worth $246,493,000 after purchasing an additional 207,412 shares during the period.
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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