Proofpoint Inc (NASDAQ:PFPT) Given Consensus Rating of “Buy” by Brokerages

Shares of Proofpoint Inc (NASDAQ:PFPT) have been given a consensus rating of “Buy” by the twenty-six brokerages that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and twenty-one have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $139.08.

Several research firms have issued reports on PFPT. SunTrust Banks began coverage on shares of Proofpoint in a research report on Wednesday, October 2nd. They issued a “hold” rating and a $135.00 price objective for the company. Royal Bank of Canada set a $150.00 price objective on shares of Proofpoint and gave the company a “buy” rating in a research report on Friday, July 26th. Piper Jaffray Companies boosted their price objective on shares of Proofpoint from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Stifel Nicolaus boosted their price objective on shares of Proofpoint from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Northland Securities reissued a “buy” rating and issued a $160.00 price objective on shares of Proofpoint in a research report on Friday, July 26th.

Shares of PFPT stock traded up $0.50 during trading hours on Monday, reaching $119.94. 711,363 shares of the stock were exchanged, compared to its average volume of 608,681. Proofpoint has a 12-month low of $75.92 and a 12-month high of $133.58. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $125.60 and its 200-day moving average price is $120.69. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of -104.30 and a beta of 1.66.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, July 25th. The software maker reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.07). The company had revenue of $214.40 million during the quarter, compared to analysts’ expectations of $211.33 million. Proofpoint had a negative net margin of 14.31% and a negative return on equity of 11.24%. Proofpoint’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. On average, sell-side analysts expect that Proofpoint will post -0.8 EPS for the current year.

In other news, Director Michael M. Johnson sold 1,844 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $117.56, for a total value of $216,780.64. Following the completion of the sale, the director now owns 1,844 shares of the company’s stock, valued at approximately $216,780.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bhagwat Swaroop sold 987 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $117.03, for a total transaction of $115,508.61. Following the completion of the sale, the executive vice president now directly owns 553 shares of the company’s stock, valued at approximately $64,717.59. The disclosure for this sale can be found here. Insiders sold a total of 71,544 shares of company stock valued at $8,861,107 in the last ninety days. Corporate insiders own 2.93% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. bought a new position in shares of Proofpoint during the 3rd quarter worth approximately $32,000. Ashburton Jersey Ltd bought a new position in shares of Proofpoint during the 2nd quarter worth approximately $60,000. AlphaOne Investment Services LLC bought a new position in shares of Proofpoint during the 2nd quarter worth approximately $72,000. Shine Investment Advisory Services Inc. raised its stake in shares of Proofpoint by 82.8% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 607 shares of the software maker’s stock worth $73,000 after acquiring an additional 275 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its stake in shares of Proofpoint by 72.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 786 shares of the software maker’s stock worth $95,000 after acquiring an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

About Proofpoint

Proofpoint, Inc operates as a security-as-a-service 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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Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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