Proofpoint (NASDAQ:PFPT)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a report released on Tuesday. They presently have a $106.00 price target on the software maker’s stock, down from their previous price target of $108.00. Wedbush’s target price would indicate a potential upside of 21.55% from the company’s previous close.

Several other research firms have also weighed in on PFPT. Evercore ISI set a $105.00 target price on shares of Proofpoint and gave the stock a “buy” rating in a report on Friday, October 20th. Piper Jaffray Companies set a $105.00 target price on shares of Proofpoint and gave the stock a “buy” rating in a report on Friday, October 20th. Imperial Capital increased their target price on shares of Proofpoint from $102.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Robert W. Baird reiterated a “hold” rating and issued a $100.00 target price (up from $95.00) on shares of Proofpoint in a report on Friday, October 20th. Finally, Stifel Nicolaus set a $100.00 target price on shares of Proofpoint and gave the stock a “buy” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. Proofpoint currently has an average rating of “Buy” and an average target price of $102.09.

Shares of Proofpoint (NASDAQ PFPT) opened at $87.21 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 11.57. Proofpoint has a twelve month low of $69.23 and a twelve month high of $97.92.

Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The company had revenue of $134.30 million for the quarter, compared to analyst estimates of $131.48 million. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 158.19%. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. research analysts forecast that Proofpoint will post -0.88 EPS for the current year.

In related news, EVP David Knight sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $91.19, for a total value of $273,570.00. Following the completion of the transaction, the executive vice president now owns 16,874 shares of the company’s stock, valued at $1,538,740.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $94.82, for a total transaction of $775,912.06. Following the completion of the transaction, the executive vice president now directly owns 25,001 shares of the company’s stock, valued at approximately $2,370,594.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,549 shares of company stock valued at $15,277,790. 5.96% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank grew its position in Proofpoint by 0.4% in the second quarter. Comerica Bank now owns 13,207 shares of the software maker’s stock valued at $1,210,000 after purchasing an additional 51 shares in the last quarter. Creative Planning grew its position in shares of Proofpoint by 7.4% in the 2nd quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after acquiring an additional 154 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Proofpoint by 5.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,902 shares of the software maker’s stock valued at $339,000 after acquiring an additional 200 shares during the period. Principal Financial Group Inc. grew its position in shares of Proofpoint by 3.8% in the 2nd quarter. Principal Financial Group Inc. now owns 5,976 shares of the software maker’s stock valued at $519,000 after acquiring an additional 216 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Proofpoint by 1.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 22,631 shares of the software maker’s stock valued at $1,965,000 after acquiring an additional 222 shares during the period.

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About Proofpoint

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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