Proofpoint, Inc. (NASDAQ:PFPT) has been given an average recommendation of “Buy” by the twenty-nine brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twenty-two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $102.00.
PFPT has been the subject of several analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $102.00 target price (up from $97.00) on shares of Proofpoint in a research note on Thursday, July 20th. Needham & Company LLC began coverage on Proofpoint in a report on Friday, July 21st. They set a “buy” rating and a $115.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $90.00 price target on shares of Proofpoint in a report on Tuesday, July 25th. Evercore ISI set a $105.00 price target on Proofpoint and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Proofpoint in a report on Friday, July 28th.
In related news, EVP David Knight sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total value of $272,280.00. Following the sale, the executive vice president now directly owns 16,874 shares in the company, valued at $1,531,484.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $88.59, for a total value of $724,931.97. Following the completion of the sale, the executive vice president now owns 25,762 shares in the company, valued at $2,282,255.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,549 shares of company stock worth $15,226,339. Company insiders own 6.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. lifted its stake in Proofpoint by 57.9% in the second quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after buying an additional 431 shares during the period. Fortaleza Asset Management Inc. raised its position in shares of Proofpoint by 22.4% during the second quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock worth $147,000 after purchasing an additional 310 shares during the period. Creative Planning raised its position in shares of Proofpoint by 7.4% during the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after purchasing an additional 154 shares during the period. Legato Capital Management LLC acquired a new position in shares of Proofpoint during the second quarter worth approximately $204,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Proofpoint during the second quarter worth approximately $215,000.
Proofpoint (NASDAQ PFPT) traded up $1.96 during trading hours on Monday, hitting $90.26. 412,300 shares of the company traded hands, compared to its average volume of 647,663. Proofpoint has a twelve month low of $69.19 and a twelve month high of $97.92. The company has a debt-to-equity ratio of 11.57, a current ratio of 1.51 and a quick ratio of 1.51.
Proofpoint (NASDAQ:PFPT) last released its earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.07. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 158.19%. The business had revenue of $134.30 million during the quarter, compared to analysts’ expectations of $131.48 million. During the same period last year, the business earned $0.19 earnings per share. The firm’s revenue was up 34.6% on a year-over-year basis. sell-side analysts anticipate that Proofpoint will post -0.88 EPS for the current year.
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.
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