Proofpoint (NASDAQ:PFPT) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
Other research analysts have also issued reports about the stock. Wedbush reissued an “outperform” rating and set a $136.00 target price (up from $130.00) on shares of Proofpoint in a research note on Friday, April 27th. Monness Crespi & Hardt reissued a “buy” rating and set a $120.00 target price (up from $115.00) on shares of Proofpoint in a research note on Friday, March 2nd. ValuEngine raised shares of Proofpoint from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Goldman Sachs Group raised shares of Proofpoint from a “sell” rating to a “neutral” rating and set a $112.00 target price on the stock in a research note on Tuesday, April 10th. Finally, Evercore ISI reissued a “buy” rating and set a $135.00 target price on shares of Proofpoint in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $125.05.
PFPT opened at $117.57 on Tuesday. Proofpoint has a twelve month low of $82.61 and a twelve month high of $130.27. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.66. The firm has a market cap of $6.09 billion, a PE ratio of -89.75 and a beta of 1.15.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, April 26th. The software maker reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.15. Proofpoint had a negative net margin of 12.58% and a negative return on equity of 21.55%. The company had revenue of $162.50 million during the quarter, compared to analysts’ expectations of $151.86 million. During the same period in the prior year, the company posted $0.12 earnings per share. Proofpoint’s revenue for the quarter was up 40.6% compared to the same quarter last year. research analysts anticipate that Proofpoint will post -1.12 earnings per share for the current fiscal year.
In other Proofpoint news, Chairman Eric Hahn sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $113.64, for a total value of $568,200.00. Following the transaction, the chairman now directly owns 18,401 shares of the company’s stock, valued at $2,091,089.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Darren Lee sold 4,711 shares of the firm’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $122.97, for a total transaction of $579,311.67. Following the completion of the transaction, the senior vice president now directly owns 4,044 shares in the company, valued at $497,290.68. The disclosure for this sale can be found here. Insiders sold 23,788 shares of company stock worth $2,869,242 over the last ninety days. Insiders own 5.96% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. lifted its position in shares of Proofpoint by 4,395.0% during the first quarter. Stratos Wealth Partners LTD. now owns 899 shares of the software maker’s stock valued at $102,000 after purchasing an additional 879 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Proofpoint during the first quarter valued at about $216,000. Optimum Investment Advisors bought a new position in shares of Proofpoint during the first quarter valued at about $227,000. Lido Advisors LLC bought a new position in shares of Proofpoint during the first quarter valued at about $244,000. Finally, Brinker Capital Inc. bought a new position in shares of Proofpoint during the first quarter valued at about $260,000.
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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