Evercore ISI reaffirmed their buy rating on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research note released on Wednesday morning. They currently have a $105.00 target price on the software maker’s stock.
PFPT has been the topic of several other reports. Royal Bank Of Canada reissued a buy rating and set a $103.00 price objective on shares of Proofpoint in a report on Thursday, August 31st. Wedbush reaffirmed an outperform rating and issued a $104.00 price target (up from $98.00) on shares of Proofpoint in a report on Friday, July 28th. FBN Securities assumed coverage on shares of Proofpoint in a report on Monday, May 22nd. They issued an outperform rating and a $95.00 price target on the stock. Piper Jaffray Companies set a $100.00 price target on shares of Proofpoint and gave the stock a buy rating in a report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Proofpoint from a hold rating to a buy rating and set a $95.00 price target on the stock in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $95.52.
Shares of Proofpoint (NASDAQ PFPT) opened at 91.94 on Wednesday. The company’s market capitalization is $4.08 billion. The stock has a 50 day moving average price of $89.04 and a 200-day moving average price of $83.68. Proofpoint has a 12 month low of $68.04 and a 12 month high of $97.00.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.05. The company had revenue of $122.30 million for the quarter, compared to analyst estimates of $119.58 million. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. Proofpoint’s revenue was up 36.0% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. Analysts forecast that Proofpoint will post $0.65 EPS for the current year.
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In related news, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $87.69, for a total transaction of $717,567.27. Following the completion of the sale, the executive vice president now owns 15,195 shares of the company’s stock, valued at approximately $1,332,449.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Knight sold 3,000 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $84.54, for a total transaction of $253,620.00. Following the sale, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at approximately $1,426,527.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,549 shares of company stock valued at $11,072,191. 6.80% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Nomura Holdings Inc. acquired a new position in Proofpoint in the 1st quarter valued at about $394,000. Credit Agricole S A acquired a new position in shares of Proofpoint in the 1st quarter worth approximately $871,000. Nordea Investment Management AB acquired a new position in shares of Proofpoint in the 1st quarter worth approximately $1,485,000. Swiss National Bank lifted its holdings in shares of Proofpoint by 1.2% in the 1st quarter. Swiss National Bank now owns 66,452 shares of the software maker’s stock worth $4,941,000 after acquiring an additional 800 shares during the last quarter. Finally, Commerce Bank lifted its holdings in shares of Proofpoint by 13.0% in the 1st quarter. Commerce Bank now owns 4,000 shares of the software maker’s stock worth $298,000 after acquiring an additional 460 shares during the last quarter.
Proofpoint Company Profile
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.
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