Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report released on Monday. They currently have a $115.00 price target on the software maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 26.11% from the company’s current price.
Several other research firms have also recently issued reports on PFPT. Piper Jaffray Companies set a $100.00 price objective on Proofpoint and gave the stock a “buy” rating in a report on Sunday. BTIG Research restated a “buy” rating and set a $110.00 price objective on shares of Proofpoint in a report on Monday. Wedbush restated an “outperform” rating and set a $104.00 price objective on shares of Proofpoint in a report on Friday. FBN Securities restated an “outperform” rating and set a $105.00 price objective (up previously from $100.00) on shares of Proofpoint in a report on Saturday. Finally, Royal Bank Of Canada restated a “buy” rating and set a $103.00 price objective on shares of Proofpoint in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Proofpoint presently has an average rating of “Buy” and an average target price of $98.91.
Proofpoint (NASDAQ PFPT) traded down 0.82% during trading on Monday, reaching $91.19. The company’s stock had a trading volume of 492,715 shares. The company’s market capitalization is $4.05 billion. The company has a 50 day moving average price of $88.96 and a 200-day moving average price of $83.69. Proofpoint has a 52 week low of $68.04 and a 52 week high of $97.00.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The firm had revenue of $122.30 million for the quarter, compared to analysts’ expectations of $119.58 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. Proofpoint’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. Equities research analysts anticipate that Proofpoint will post $0.65 earnings per share for the current year.
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In related news, CEO Gary Steele sold 40,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $87.11, for a total value of $3,484,400.00. Following the completion of the sale, the chief executive officer now directly owns 88,551 shares of the company’s stock, valued at $7,713,677.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tracey Newell sold 8,183 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $87.69, for a total value of $717,567.27. Following the completion of the sale, the executive vice president now directly owns 15,195 shares of the company’s stock, valued at $1,332,449.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 125,549 shares of company stock worth $11,072,191. Corporate insiders own 6.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. increased its holdings in Proofpoint by 57.9% in the second quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after buying an additional 431 shares during the last quarter. Fortaleza Asset Management Inc. boosted its holdings in Proofpoint by 22.4% in the second quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock worth $147,000 after purchasing an additional 310 shares in the last quarter. Creative Planning boosted its holdings in Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after purchasing an additional 154 shares in the last quarter. Legato Capital Management LLC bought a new stake in Proofpoint in the second quarter worth $204,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Proofpoint in the second quarter worth $215,000.
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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