Proofpoint (PFPT) PT Raised to $112.00 at Royal Bank of Canada

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.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.08. The company had revenue of $145.40 million during the quarter, compared to analyst estimates of $139.61 million. Proofpoint had a negative net margin of 16.37% and a negative return on equity of 131.99%. The firm’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. equities analysts forecast that Proofpoint will post -0.68 EPS for the current year.

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.

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About Proofpoint

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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