Proofpoint, Inc. (NASDAQ:PFPT) received a $100.00 price target from investment analysts at Piper Jaffray Companies in a research report issued to clients and investors on Sunday. The firm presently has a “buy” rating on the software maker’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 9.66% from the company’s previous close.
A number of other brokerages have also issued reports on PFPT. Needham & Company LLC assumed coverage on Proofpoint in a research note on Friday, July 21st. They issued a “buy” rating and a $115.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $102.00 price target (up from $97.00) on shares of Proofpoint in a research note on Thursday, July 20th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target on shares of Proofpoint in a research note on Friday. FBN Securities reissued an “outperform” rating and issued a $105.00 price target (up from $100.00) on shares of Proofpoint in a research note on Saturday. Finally, ValuEngine raised Proofpoint from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $98.91.
Shares of Proofpoint (NASDAQ PFPT) opened at 91.19 on Friday. The stock’s market capitalization is $4.05 billion. The company has a 50-day moving average of $88.96 and a 200 day moving average of $83.71. Proofpoint has a one year low of $68.04 and a one year high of $97.00.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $119.58 million. During the same period last year, the company earned $0.06 EPS. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. Equities research analysts forecast that Proofpoint will post $0.65 earnings per share for the current fiscal year.
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In related news, EVP Bhagwat Swaroop sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $85.17, for a total transaction of $425,850.00. Following the sale, the executive vice president now directly owns 13,161 shares in the company, valued at approximately $1,120,922.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $87.69, for a total value of $717,567.27. Following the sale, the executive vice president now owns 15,195 shares in the company, valued at $1,332,449.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,549 shares of company stock worth $11,072,191. Company insiders own 6.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PFPT. BlackRock Inc. increased its holdings in Proofpoint by 22,439.7% during the 1st quarter. BlackRock Inc. now owns 3,193,429 shares of the software maker’s stock worth $237,464,000 after purchasing an additional 3,179,261 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Proofpoint by 161.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 2,313,715 shares of the software maker’s stock worth $172,048,000 after purchasing an additional 1,429,192 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in Proofpoint by 249.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 823,521 shares of the software maker’s stock worth $71,506,000 after purchasing an additional 588,015 shares during the last quarter. ETF Managers Group LLC purchased a new stake in Proofpoint during the 2nd quarter worth approximately $43,157,000. Finally, Teachers Advisors LLC increased its holdings in Proofpoint by 86.8% during the 2nd quarter. Teachers Advisors LLC now owns 549,680 shares of the software maker’s stock worth $47,729,000 after purchasing an additional 255,391 shares during the last quarter.
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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