Analysts at Oppenheimer Holdings, Inc. assumed coverage on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a note issued to investors on Wednesday, November 1st. The brokerage set a “market perform” rating on the software maker’s stock.
PFPT has been the topic of several other research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $103.00 target price on shares of Proofpoint in a report on Thursday, August 31st. Wedbush reissued an “outperform” rating and set a $104.00 price objective (up previously from $98.00) on shares of Proofpoint in a report on Friday, July 28th. Piper Jaffray Companies set a $100.00 price objective on shares of Proofpoint and gave the stock a “buy” rating in a report on Sunday, October 15th. Evercore ISI set a $105.00 price objective on shares of Proofpoint and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, Robert W. Baird reissued a “hold” rating and set a $100.00 price objective (up previously from $95.00) on shares of Proofpoint in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the company. Proofpoint presently has a consensus rating of “Buy” and an average price target of $101.70.
Proofpoint (NASDAQ:PFPT) traded up $1.96 during midday trading on Wednesday, reaching $90.26. 412,300 shares of the company’s stock were exchanged, compared to its average volume of 647,663. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 11.57. Proofpoint has a one year low of $69.19 and a one year high of $97.92.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The business had revenue of $134.30 million for the quarter, compared to the consensus estimate of $131.48 million. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 158.19%. The business’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. equities analysts anticipate that Proofpoint will post -0.88 earnings per share for the current year.
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In other Proofpoint news, EVP Tracey Newell sold 8,183 shares of the stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $94.82, for a total transaction of $775,912.06. Following the sale, the executive vice president now directly owns 25,001 shares of the company’s stock, valued at $2,370,594.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Knight sold 3,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total transaction of $272,280.00. Following the completion of the sale, the executive vice president now directly owns 16,874 shares in the company, valued at approximately $1,531,484.24. The disclosure for this sale can be found here. Insiders have sold a total of 168,549 shares of company stock worth $15,226,339 over the last quarter. 6.80% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its position in shares of Proofpoint by 57.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after purchasing an additional 431 shares in the last quarter. Fortaleza Asset Management Inc. raised its position in Proofpoint by 22.4% during the second quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock valued at $147,000 after acquiring an additional 310 shares in the last quarter. Creative Planning raised its position in Proofpoint by 7.4% during the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after acquiring an additional 154 shares in the last quarter. Legato Capital Management LLC bought a new position in Proofpoint during the second quarter valued at approximately $204,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Proofpoint during the second quarter valued at approximately $215,000.
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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