Proofpoint (PFPT) Stock Rating Lowered by First Analysis

First Analysis lowered shares of Proofpoint (NASDAQ:PFPT) from a strong-buy rating to an outperform rating in a report issued on Friday, Marketbeat.com reports. The brokerage currently has $110.00 price objective on the software maker’s stock, down from their previous price objective of $150.00.

PFPT has been the subject of a number of other research reports. Wedbush reiterated an outperform rating and issued a $136.00 price objective on shares of Proofpoint in a report on Wednesday, July 11th. BidaskClub downgraded Proofpoint from a buy rating to a hold rating in a report on Wednesday, August 1st. Zacks Investment Research downgraded Proofpoint from a hold rating to a sell rating in a report on Tuesday, July 24th. Stifel Nicolaus upped their price objective on Proofpoint to $130.00 and gave the company a buy rating in a report on Friday, July 27th. Finally, Monness Crespi & Hardt upped their price objective on Proofpoint from $135.00 to $140.00 and gave the company a buy rating in a report on Friday, July 27th. Six research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Proofpoint has a consensus rating of Buy and an average price target of $125.05.

NASDAQ PFPT opened at $89.78 on Friday. The stock has a market capitalization of $4.28 billion, a P/E ratio of -68.53 and a beta of 1.25. 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 12 month low of $75.92 and a 12 month high of $130.27.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, October 25th. The software maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.73. The business had revenue of $184.18 million during the quarter, compared to the consensus estimate of $181.69 million. Proofpoint had a negative return on equity of 14.27% and a negative net margin of 14.08%. On average, equities research analysts predict that Proofpoint will post -1.18 EPS for the current year.

In other Proofpoint news, EVP David Knight sold 1,500 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $114.68, for a total value of $172,020.00. Following the completion of the sale, the executive vice president now directly owns 17,694 shares in the company, valued at $2,029,147.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bhagwat Swaroop sold 1,634 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $117.93, for a total value of $192,697.62. Following the completion of the sale, the executive vice president now owns 2,291 shares of the company’s stock, valued at $270,177.63. The disclosure for this sale can be found here. Insiders sold 288,560 shares of company stock valued at $27,215,422 over the last 90 days. Corporate insiders own 3.37% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Aperio Group LLC increased its holdings in shares of Proofpoint by 7.6% in the second quarter. Aperio Group LLC now owns 9,633 shares of the software maker’s stock worth $1,111,000 after acquiring an additional 684 shares in the last quarter. Essex Investment Management Co. LLC grew its holdings in shares of Proofpoint by 2.3% during the third quarter. Essex Investment Management Co. LLC now owns 36,647 shares of the software maker’s stock worth $3,897,000 after buying an additional 824 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Proofpoint by 6.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,597 shares of the software maker’s stock worth $1,683,000 after buying an additional 877 shares in the last quarter. Federated Investors Inc. PA grew its holdings in shares of Proofpoint by 181.1% during the second quarter. Federated Investors Inc. PA now owns 1,386 shares of the software maker’s stock worth $160,000 after buying an additional 893 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its holdings in shares of Proofpoint by 2.9% during the second quarter. Kornitzer Capital Management Inc. KS now owns 37,175 shares of the software maker’s stock worth $4,287,000 after buying an additional 1,060 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

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.

Further Reading: Bear Market

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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