Proofpoint (PFPT) Price Target Increased to $120.00 by Analysts at Imperial Capital

Proofpoint (NASDAQ:PFPT) had its target price lifted by investment analysts at Imperial Capital from $110.00 to $120.00 in a report released on Thursday. The firm presently has an “outperform” rating on the software maker’s stock. Imperial Capital’s target price indicates a potential upside of 20.10% from the stock’s previous close.

Other analysts have also issued reports about the stock. Evercore ISI reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Proofpoint in a research note on Wednesday, November 22nd. Piper Jaffray Companies set a $105.00 price objective on shares of Proofpoint and gave the stock a “buy” rating in a research note on Friday, October 20th. Deutsche Bank reaffirmed a “buy” rating and issued a $114.00 price objective (up from $100.00) on shares of Proofpoint in a research note on Wednesday, October 18th. Stifel Nicolaus set a $100.00 price objective on shares of Proofpoint and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, Monness Crespi & Hardt initiated coverage on shares of Proofpoint in a research note on Monday, October 16th. They issued a “buy” rating and a $110.00 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Proofpoint currently has an average rating of “Buy” and a consensus price target of $107.63.

Shares of Proofpoint (NASDAQ:PFPT) opened at $99.92 on Thursday. Proofpoint has a one year low of $70.30 and a one year high of $104.62. The firm has a market cap of $4,599.15, a PE ratio of -52.31 and a beta of 1.39. 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 (NASDAQ:PFPT) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.08. Proofpoint had a negative net margin of 16.37% and a negative return on equity of 131.99%. The company had revenue of $145.40 million during the quarter, compared to analyst estimates of $139.61 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 36.1% compared to the same quarter last year. analysts anticipate that Proofpoint will post -0.86 EPS for the current year.

In related news, EVP David Knight sold 3,000 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $88.99, for a total value of $266,970.00. Following the completion of the transaction, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at approximately $1,501,617.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary Steele sold 40,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $90.88, for a total transaction of $3,635,200.00. The disclosure for this sale can be found here. Insiders sold a total of 165,549 shares of company stock valued at $14,900,426 over the last ninety days. 5.96% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Balter Liquid Alternatives LLC purchased a new position in shares of Proofpoint in the 4th quarter valued at approximately $407,000. Sigma Planning Corp purchased a new position in shares of Proofpoint in the 4th quarter valued at approximately $238,000. Swiss National Bank raised its position in shares of Proofpoint by 3.4% in the 4th quarter. Swiss National Bank now owns 75,652 shares of the software maker’s stock valued at $6,719,000 after purchasing an additional 2,500 shares during the last quarter. Lisanti Capital Growth LLC raised its position in shares of Proofpoint by 20.4% in the 4th quarter. Lisanti Capital Growth LLC now owns 21,083 shares of the software maker’s stock valued at $1,872,000 after purchasing an additional 3,565 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Proofpoint by 3.0% in the 4th quarter. California Public Employees Retirement System now owns 92,019 shares of the software maker’s stock valued at $8,172,000 after purchasing an additional 2,700 shares during the last quarter.

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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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