Proofpoint (NASDAQ:PFPT) had its price target boosted by Royal Bank of Canada from $100.00 to $112.00 in a report published on Wednesday. The firm currently has an outperform rating on the software maker’s stock.
Other equities analysts have also issued research reports about the stock. Stifel Nicolaus set a $100.00 target price on shares of Proofpoint and gave the stock a buy rating in a research report on Monday, October 16th. Piper Jaffray Companies set a $100.00 target price on shares of Proofpoint and gave the stock a buy rating in a research report on Sunday, October 15th. Wedbush reiterated an outperform rating and set a $106.00 target price (down previously from $108.00) on shares of Proofpoint in a research report on Tuesday, December 5th. BidaskClub upgraded shares of Proofpoint from a hold rating to a buy rating in a research report on Friday, December 22nd. Finally, Deutsche Bank reiterated a buy rating and set a $114.00 target price on shares of Proofpoint in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $107.63.
Proofpoint (NASDAQ PFPT) opened at $97.05 on Wednesday. The firm has a market cap of $4,550.00, a PE ratio of -50.55 and a beta of 1.39. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 11.57. Proofpoint has a 1 year low of $70.30 and a 1 year high of $104.62.
In other news, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $96.54, for a total value of $789,986.82. Following the completion of the transaction, the executive vice president now directly owns 23,376 shares in the company, valued at $2,256,719.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Knight sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $88.99, for a total transaction of $266,970.00. Following the completion of the transaction, the executive vice president now owns 16,874 shares of the company’s stock, valued at $1,501,617.26. The disclosure for this sale can be found here. Insiders sold 165,549 shares of company stock valued at $14,900,426 over the last 90 days. 5.96% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Proofpoint by 133.9% in the third quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock valued at $76,551,000 after purchasing an additional 498,462 shares in the last quarter. Wasatch Advisors Inc. raised its stake in Proofpoint by 52.2% in the second quarter. Wasatch Advisors Inc. now owns 728,526 shares of the software maker’s stock valued at $63,258,000 after purchasing an additional 249,919 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Proofpoint by 8.1% in the third quarter. Artisan Partners Limited Partnership now owns 3,012,092 shares of the software maker’s stock valued at $262,715,000 after purchasing an additional 225,970 shares in the last quarter. Renaissance Technologies LLC raised its stake in Proofpoint by 340.9% in the second quarter. Renaissance Technologies LLC now owns 175,900 shares of the software maker’s stock valued at $15,273,000 after purchasing an additional 136,000 shares in the last quarter. Finally, Elk Creek Partners LLC purchased a new stake in Proofpoint in the third quarter valued at approximately $10,787,000.
TRADEMARK VIOLATION WARNING: This piece of content was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece of content on another site, it was stolen and reposted in violation of US and international copyright law. The original version of this piece of content can be viewed at https://sportsperspectives.com/2018/02/10/proofpoint-pfpt-pt-raised-to-112-00-at-royal-bank-of-canada.html.
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.
Receive News & Ratings for Proofpoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint and related companies with MarketBeat.com's FREE daily email newsletter.