Proofpoint (NASDAQ:PFPT) had its target price upped by Citigroup from $118.00 to $140.00 in a research report sent to investors on Monday. They currently have a buy rating on the software maker’s stock.
A number of other brokerages also recently issued reports on PFPT. Deutsche Bank reaffirmed a buy rating and set a $114.00 price target on shares of Proofpoint in a report on Tuesday, January 30th. BidaskClub raised Proofpoint from a buy rating to a strong-buy rating in a report on Friday, January 26th. Wedbush reaffirmed an outperform rating and set a $130.00 price target on shares of Proofpoint in a report on Monday, April 9th. Piper Jaffray reaffirmed a buy rating and set a $123.00 price target on shares of Proofpoint in a report on Friday, March 2nd. Finally, Zacks Investment Research downgraded Proofpoint from a buy rating to a hold rating in a report on Thursday, December 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $114.72.
PFPT opened at $124.43 on Monday. Proofpoint has a 12 month low of $70.30 and a 12 month high of $126.29. The firm has a market cap of $6,134.30, a P/E ratio of -94.98 and a beta of 1.18. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.85.
Proofpoint (NASDAQ:PFPT) last released its earnings results on Tuesday, February 6th. The software maker reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.08. The firm had revenue of $145.40 million during the quarter, compared to analysts’ expectations of $139.61 million. Proofpoint had a negative return on equity of 54.09% and a negative net margin of 16.37%. Proofpoint’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. research analysts forecast that Proofpoint will post -1.01 EPS for the current fiscal year.
In other news, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $105.93, for a total value of $529,650.00. Following the completion of the sale, the chairman now directly owns 28,001 shares of the company’s stock, valued at approximately $2,966,145.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bhagwat Swaroop sold 3,077 shares of the business’s stock in a transaction dated Friday, April 6th. The shares were sold at an average price of $117.41, for a total value of $361,270.57. The disclosure for this sale can be found here. Insiders sold a total of 99,197 shares of company stock valued at $10,137,204 over the last three months. Company insiders own 5.96% of the company’s stock.
A number of hedge funds have recently modified their holdings of PFPT. Legal & General Group Plc increased its position in Proofpoint by 29.1% in the 3rd quarter. Legal & General Group Plc now owns 20,009 shares of the software maker’s stock valued at $1,747,000 after acquiring an additional 4,506 shares during the period. Schwab Charles Investment Management Inc. increased its position in Proofpoint by 7.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 239,900 shares of the software maker’s stock valued at $20,925,000 after acquiring an additional 15,865 shares during the period. Dimensional Fund Advisors LP increased its position in Proofpoint by 46.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 42,994 shares of the software maker’s stock valued at $3,750,000 after acquiring an additional 13,554 shares during the period. California Public Employees Retirement System increased its position in Proofpoint by 2.5% in the 3rd quarter. California Public Employees Retirement System now owns 89,319 shares of the software maker’s stock valued at $7,790,000 after acquiring an additional 2,219 shares during the period. Finally, Neuberger Berman Group LLC increased its position in Proofpoint by 1.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 297,459 shares of the software maker’s stock valued at $25,944,000 after acquiring an additional 3,051 shares during the period.
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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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