Stifel Nicolaus set a $100.00 price target on Proofpoint, Inc. (NASDAQ:PFPT) in a research note published on Monday, October 16th. The brokerage currently has a buy rating on the software maker’s stock.
PFPT has been the subject of a number of other research reports. Royal Bank Of Canada restated a buy rating and set a $103.00 target price on shares of Proofpoint in a report on Thursday, August 31st. Wedbush reaffirmed an outperform rating and issued a $104.00 price target (up from $98.00) on shares of Proofpoint in a research note on Friday, July 28th. Piper Jaffray Companies set a $100.00 price target on Proofpoint and gave the stock a buy rating in a research note on Sunday, October 15th. Evercore ISI reaffirmed a buy rating and issued a $105.00 price target on shares of Proofpoint in a research note on Wednesday, September 6th. Finally, Zacks Investment Research raised Proofpoint from a hold rating to a buy rating and set a $95.00 price target on the stock in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $101.70.
Shares of Proofpoint (PFPT) opened at 89.40 on Monday. Proofpoint has a 12 month low of $69.19 and a 12 month high of $97.92. The firm’s market cap is $3.97 billion. The stock’s 50 day moving average is $91.39 and its 200 day moving average is $86.90.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. The company had revenue of $134.30 million during the quarter, compared to the consensus estimate of $131.48 million. Proofpoint had a negative return on equity of 152.53% and a negative net margin of 20.19%. The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. Equities research analysts expect that Proofpoint will post $0.74 EPS for the current year.
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In other news, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $88.59, for a total transaction of $724,931.97. Following the transaction, the executive vice president now directly owns 25,762 shares of the company’s stock, valued at $2,282,255.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary Steele sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $89.54, for a total value of $3,581,600.00. Following the transaction, the chief executive officer now directly owns 88,551 shares in the company, valued at $7,928,856.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,549 shares of company stock worth $15,226,339. Corporate insiders own 6.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Nomura Holdings Inc. bought a new position in Proofpoint in the first quarter valued at about $394,000. Federated Investors Inc. PA lifted its holdings in Proofpoint by 63.8% in the second quarter. Federated Investors Inc. PA now owns 85,435 shares of the software maker’s stock valued at $7,419,000 after acquiring an additional 33,290 shares during the period. Credit Agricole S A bought a new position in Proofpoint in the first quarter valued at about $871,000. Artisan Partners Limited Partnership lifted its holdings in Proofpoint by 20.4% in the second quarter. Artisan Partners Limited Partnership now owns 2,786,122 shares of the software maker’s stock valued at $241,919,000 after acquiring an additional 472,407 shares during the period. Finally, Brighton Jones LLC bought a new position in Proofpoint in the second quarter valued at about $285,000.
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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