Cowen reiterated their buy rating on shares of Proofpoint (NASDAQ:PFPT) in a research report sent to investors on Friday. They currently have a $125.00 price objective on the software maker’s stock.
PFPT has been the topic of a number of other reports. Deutsche Bank boosted their price target on shares of Proofpoint from $120.00 to $140.00 and gave the company a buy rating in a research report on Friday, March 16th. Piper Jaffray restated an overweight rating and issued a $134.00 price target on shares of Proofpoint in a research report on Friday, March 9th. Zacks Investment Research upgraded shares of Proofpoint from a hold rating to a buy rating and set a $102.00 price target on the stock in a research report on Wednesday, December 27th. Monness Crespi & Hardt boosted their price target on shares of Proofpoint from $110.00 to $115.00 and gave the company a buy rating in a research report on Wednesday, February 7th. Finally, TheStreet upgraded shares of Proofpoint from a d rating to a c- rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $116.58.
Shares of Proofpoint stock traded down $3.56 during trading on Friday, hitting $122.07. 725,910 shares of the company’s stock traded hands, compared to its average volume of 513,893. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.07. Proofpoint has a twelve month low of $74.42 and a twelve month high of $127.35. The firm has a market cap of $6,385.52, a P/E ratio of -93.18 and a beta of 1.19.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.08. The business had revenue of $145.40 million for the quarter, compared to analyst estimates of $139.61 million. Proofpoint had a negative net margin of 16.37% and a negative return on equity of 54.09%. The firm’s revenue was up 36.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. equities analysts forecast that Proofpoint will post -1.01 earnings per share for the current fiscal year.
In other Proofpoint news, SVP Robert Darren Lee sold 18,139 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $97.73, for a total value of $1,772,724.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary Steele sold 40,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $102.40, for a total transaction of $4,096,000.00. Following the completion of the transaction, the chief executive officer now directly owns 94,203 shares of the company’s stock, valued at $9,646,387.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,303 shares of company stock valued at $9,007,666. Insiders own 5.96% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of PFPT. Carillon Tower Advisers Inc. bought a new stake in shares of Proofpoint during the fourth quarter worth approximately $56,177,000. TIAA CREF Investment Management LLC raised its stake in shares of Proofpoint by 25.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,348,936 shares of the software maker’s stock worth $119,799,000 after buying an additional 271,581 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Proofpoint by 66.5% during the fourth quarter. Renaissance Technologies LLC now owns 291,700 shares of the software maker’s stock worth $25,906,000 after buying an additional 116,500 shares during the last quarter. Castleark Management LLC bought a new stake in shares of Proofpoint during the fourth quarter worth approximately $7,439,000. Finally, Alliancebernstein L.P. raised its stake in shares of Proofpoint by 13.4% during the fourth quarter. Alliancebernstein L.P. now owns 672,156 shares of the software maker’s stock worth $59,694,000 after buying an additional 79,595 shares during the last quarter.
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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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