Shares of Proofpoint Inc (NASDAQ:PFPT) have earned an average recommendation of “Buy” from the twenty-six analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and twenty-two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $123.85.
PFPT has been the topic of several recent research reports. Goldman Sachs Group raised Proofpoint from a “neutral” rating to a “buy” rating and set a $114.00 price target on the stock in a research note on Monday, October 29th. Monness Crespi & Hardt dropped their price target on Proofpoint from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Zacks Investment Research downgraded Proofpoint from a “hold” rating to a “sell” rating in a research note on Thursday. Deutsche Bank dropped their price target on Proofpoint to $125.00 and set a “buy” rating on the stock in a research note on Monday, October 1st. Finally, JMP Securities dropped their price target on Proofpoint from $145.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th.
In other Proofpoint news, CEO Gary Steele sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $95.31, for a total transaction of $4,765,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.37% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System increased its position in Proofpoint by 1.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 64,399 shares of the software maker’s stock worth $6,848,000 after buying an additional 656 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Proofpoint by 0.8% during the third quarter. Swiss National Bank now owns 88,652 shares of the software maker’s stock worth $9,426,000 after acquiring an additional 700 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Proofpoint by 4.8% during the third quarter. Baird Financial Group Inc. now owns 15,749 shares of the software maker’s stock worth $1,604,000 after acquiring an additional 717 shares during the period. Essex Investment Management Co. LLC boosted its holdings in shares of Proofpoint by 2.3% during the third quarter. Essex Investment Management Co. LLC now owns 36,647 shares of the software maker’s stock worth $3,897,000 after acquiring an additional 824 shares during the period. Finally, Federated Investors Inc. PA boosted its holdings in shares of Proofpoint by 181.1% during the second quarter. Federated Investors Inc. PA now owns 1,386 shares of the software maker’s stock worth $160,000 after acquiring an additional 893 shares during the period. 97.49% of the stock is currently owned by hedge funds and other institutional investors.
PFPT stock opened at $91.63 on Friday. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of -69.95 and a beta of 1.48. Proofpoint has a 1-year low of $75.92 and a 1-year high of $130.27.
Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, October 25th. The software maker reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.73. The firm had revenue of $184.18 million for the quarter, compared to analyst estimates of $181.69 million. Proofpoint had a negative return on equity of 11.86% and a negative net margin of 14.08%. On average, equities analysts predict that Proofpoint will post -1.14 EPS for the current year.
Proofpoint Company Profile
Proofpoint, Inc operates as a security-as-a-service (SaaS) provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent drive-by' downloads, malicious Web links, hybrid threats, malware free attacks, and other penetration tactics.
Further Reading: Outstanding Shares and The Effect on Share Price
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