Proofpoint (PFPT) Given Outperform Rating at Robert W. Baird

Robert W. Baird reaffirmed their outperform rating on shares of Proofpoint (NASDAQ:PFPT) in a research report released on Thursday.

PFPT has been the subject of several other research reports. Zacks Investment Research downgraded shares of Proofpoint from a buy rating to a hold rating in a research report on Tuesday, September 25th. BidaskClub downgraded shares of Proofpoint from a buy rating to a hold rating in a research report on Tuesday, June 26th. Royal Bank of Canada reissued a buy rating and set a $140.00 price objective on shares of Proofpoint in a research report on Friday, July 27th. Wedbush reissued an outperform rating and set a $136.00 price objective on shares of Proofpoint in a research report on Wednesday, July 11th. Finally, Deutsche Bank lowered their price objective on shares of Proofpoint to $125.00 and set a buy rating for the company in a research report on Monday, October 1st. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $131.74.

Shares of PFPT stock traded down $2.82 during trading hours on Thursday, hitting $101.15. 22,643 shares of the company were exchanged, compared to its average volume of 1,153,434. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.69. Proofpoint has a 52 week low of $82.61 and a 52 week high of $130.27. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of -79.11 and a beta of 1.24.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, July 26th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.09. Proofpoint had a negative net margin of 12.93% and a negative return on equity of 16.48%. The company had revenue of $171.90 million during the quarter, compared to the consensus estimate of $169.46 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The firm’s revenue was up 40.6% compared to the same quarter last year. On average, equities analysts expect that Proofpoint will post -1.18 EPS for the current year.

In other Proofpoint news, CEO Gary Steele sold 100,000 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $62.54, for a total value of $6,254,000.00. Following the completion of the sale, the chief executive officer now owns 121,074 shares in the company, valued at $7,571,967.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David Knight sold 1,500 shares of the stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $102.90, for a total transaction of $154,350.00. Following the completion of the sale, the executive vice president now owns 14,214 shares of the company’s stock, valued at approximately $1,462,620.60. The disclosure for this sale can be found here. Insiders have sold 288,560 shares of company stock valued at $27,215,422 in the last 90 days. 5.96% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Aperio Group LLC lifted its stake in Proofpoint by 7.6% in the second quarter. Aperio Group LLC now owns 9,633 shares of the software maker’s stock valued at $1,111,000 after acquiring an additional 684 shares during the last quarter. Essex Investment Management Co. LLC raised its position in shares of Proofpoint by 2.3% in the third quarter. Essex Investment Management Co. LLC now owns 36,647 shares of the software maker’s stock valued at $3,897,000 after purchasing an additional 824 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Proofpoint by 6.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,597 shares of the software maker’s stock valued at $1,683,000 after purchasing an additional 877 shares during the period. Federated Investors Inc. PA raised its position in shares of Proofpoint by 181.1% in the second quarter. Federated Investors Inc. PA now owns 1,386 shares of the software maker’s stock valued at $160,000 after purchasing an additional 893 shares during the period. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of Proofpoint by 2.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 37,175 shares of the software maker’s stock valued at $4,287,000 after purchasing an additional 1,060 shares during the period. Hedge funds and other institutional investors own 95.26% of the company’s stock.

About Proofpoint

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.

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