Proofpoint Inc (PFPT) Receives Average Recommendation of “Buy” from Brokerages

Proofpoint Inc (NASDAQ:PFPT) has received an average rating of “Buy” from the thirty ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $107.87.

Several research firms have recently weighed in on PFPT. Imperial Capital boosted their price target on Proofpoint from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. TheStreet upgraded Proofpoint from a “d” rating to a “c-” rating in a research report on Wednesday, February 7th. Monness Crespi & Hardt upped their price objective on Proofpoint from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Dougherty & Co upped their price objective on Proofpoint from $108.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley upped their price objective on Proofpoint from $116.00 to $124.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th.

Proofpoint (PFPT) opened at $105.91 on Wednesday. Proofpoint has a one year low of $70.30 and a one year high of $107.76. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 11.57. The firm has a market capitalization of $5,296.71, a price-to-earnings ratio of -55.45 and a beta of 1.39.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.08. Proofpoint had a negative return on equity of 131.99% and a negative net margin of 16.37%. The firm had revenue of $145.40 million during the quarter, compared to analysts’ expectations of $139.61 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company’s revenue was up 36.1% on a year-over-year basis. research analysts expect that Proofpoint will post -0.91 EPS for the current fiscal year.

In other Proofpoint news, EVP Tracey Newell sold 8,183 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $91.24, for a total transaction of $746,616.92. Following the completion of the sale, the executive vice president now owns 25,001 shares of the company’s stock, valued at $2,281,091.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary Steele sold 40,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $86.28, for a total value of $3,451,200.00. Following the sale, the chief executive officer now directly owns 88,551 shares of the company’s stock, valued at approximately $7,640,180.28. The disclosure for this sale can be found here. Insiders have sold 150,266 shares of company stock valued at $13,999,688 in the last three months. 5.96% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its stake in shares of Proofpoint by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,771 shares of the software maker’s stock worth $327,000 after acquiring an additional 245 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Proofpoint by 0.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 115,520 shares of the software maker’s stock worth $10,259,000 after acquiring an additional 550 shares during the period. American International Group Inc. boosted its stake in shares of Proofpoint by 2.1% in the fourth quarter. American International Group Inc. now owns 29,407 shares of the software maker’s stock worth $2,612,000 after acquiring an additional 603 shares during the period. Rhumbline Advisers boosted its stake in shares of Proofpoint by 1.2% in the third quarter. Rhumbline Advisers now owns 52,699 shares of the software maker’s stock worth $4,596,000 after acquiring an additional 633 shares during the period. Finally, Aperio Group LLC boosted its stake in shares of Proofpoint by 24.2% in the third quarter. Aperio Group LLC now owns 4,461 shares of the software maker’s stock worth $389,000 after acquiring an additional 870 shares during the period.

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About Proofpoint

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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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