BTIG Research reaffirmed their buy rating on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research report report published on Monday. The brokerage currently has a $110.00 price objective on the software maker’s stock.
Several other equities research analysts have also recently issued reports on the company. Piper Jaffray Companies set a $100.00 price target on Proofpoint and gave the company a buy rating in a research note on Sunday. FBN Securities restated an outperform rating and set a $105.00 price objective (up from $100.00) on shares of Proofpoint in a research report on Saturday. Stifel Nicolaus restated a buy rating and set a $100.00 price objective on shares of Proofpoint in a research report on Friday. Deutsche Bank AG boosted their price objective on shares of Proofpoint from $95.00 to $100.00 and gave the company a buy rating in a research report on Friday. Finally, Wedbush restated an outperform rating and set a $104.00 price objective on shares of Proofpoint in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $98.91.
Proofpoint (NASDAQ:PFPT) opened at 91.67 on Monday. The firm’s market capitalization is $4.07 billion. The stock has a 50 day moving average price of $88.96 and a 200-day moving average price 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, beating the consensus estimate of $0.12 by $0.05. The business had revenue of $122.30 million during the quarter, compared to analysts’ expectations of $119.58 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. On average, equities analysts forecast that Proofpoint will post $0.65 earnings per share for the current year.
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In related news, CEO Gary Steele sold 40,000 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $87.11, for a total value of $3,484,400.00. Following the completion of the sale, the chief executive officer now directly owns 88,551 shares in the company, valued at $7,713,677.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bhagwat Swaroop sold 5,000 shares of the stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $85.17, for a total value of $425,850.00. Following the completion of the sale, the executive vice president now owns 13,161 shares of the company’s stock, valued at $1,120,922.37. The disclosure for this sale can be found here. Insiders sold 125,549 shares of company stock valued at $11,072,191 over the last 90 days. 6.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Proofpoint in the second quarter valued at $215,000. Wasatch Advisors Inc. increased its holdings in Proofpoint by 52.2% in the second quarter. Wasatch Advisors Inc. now owns 728,526 shares of the software maker’s stock valued at $63,258,000 after purchasing an additional 249,919 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Proofpoint by 46.1% in the second quarter. Public Employees Retirement System of Ohio now owns 20,142 shares of the software maker’s stock valued at $1,749,000 after purchasing an additional 6,357 shares during the period. Sterling Capital Management LLC increased its holdings in Proofpoint by 41.9% in the second quarter. Sterling Capital Management LLC now owns 33,497 shares of the software maker’s stock valued at $2,909,000 after purchasing an additional 9,884 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in Proofpoint by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,771 shares of the software maker’s stock valued at $327,000 after purchasing an additional 245 shares during the period.
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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