Shares of Proofpoint Inc (NASDAQ:PFPT) have earned a consensus rating of “Buy” from the twenty-seven research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $125.68.
Several research firms have recently commented on PFPT. Stifel Nicolaus raised their price objective on shares of Proofpoint to $130.00 and gave the company a “buy” rating in a research note on Friday, July 27th. JMP Securities lowered their price objective on shares of Proofpoint from $145.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. First Analysis lowered shares of Proofpoint from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $150.00 to $110.00 in a research note on Friday, October 26th. Monness Crespi & Hardt lowered their price objective on shares of Proofpoint from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Finally, Goldman Sachs Group raised shares of Proofpoint from a “neutral” rating to a “buy” rating and set a $114.00 price objective for the company in a research note on Monday.
In related news, CFO Paul R. Auvil III sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $116.05, for a total value of $4,642,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gary Steele sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $117.62, for a total transaction of $5,881,000.00. Following the completion of the sale, the chief executive officer now directly owns 121,589 shares in the company, valued at approximately $14,301,298.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 247,060 shares of company stock worth $22,495,402. 5.96% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Jennison Associates LLC raised its holdings in Proofpoint by 73.3% during the second quarter. Jennison Associates LLC now owns 575,544 shares of the software maker’s stock worth $66,366,000 after purchasing an additional 243,380 shares in the last quarter. First Trust Advisors LP raised its holdings in Proofpoint by 111.0% during the third quarter. First Trust Advisors LP now owns 441,552 shares of the software maker’s stock worth $46,950,000 after purchasing an additional 232,321 shares in the last quarter. Legal & General Group Plc raised its holdings in Proofpoint by 843.3% during the first quarter. Legal & General Group Plc now owns 194,464 shares of the software maker’s stock worth $22,101,000 after purchasing an additional 173,849 shares in the last quarter. Millennium Management LLC raised its holdings in Proofpoint by 111.5% during the second quarter. Millennium Management LLC now owns 297,601 shares of the software maker’s stock worth $34,316,000 after purchasing an additional 156,908 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new stake in Proofpoint during the third quarter worth approximately $15,117,000. 95.54% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ PFPT opened at $90.95 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.69. Proofpoint has a one year low of $75.92 and a one year high of $130.27. The company has a market capitalization of $4.59 billion, a PE ratio of -69.43 and a beta of 1.24.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, October 25th. The software maker reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.73. Proofpoint had a negative net margin of 14.08% and a negative return on equity of 14.27%. The business had revenue of $184.18 million during the quarter, compared to analyst estimates of $181.69 million. Equities research analysts anticipate that Proofpoint will post -1.14 earnings per share for the current year.
Proofpoint Company Profile
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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