Proofpoint’s (PFPT) Buy Rating Reiterated at Monness Crespi & Hardt

Proofpoint (NASDAQ:PFPT)‘s stock had its “buy” rating reaffirmed by stock analysts at Monness Crespi & Hardt in a research note issued to investors on Wednesday, Briefing.com Automated Import reports. They currently have a $137.00 price objective on the software maker’s stock, up from their previous price objective of $120.00. Monness Crespi & Hardt’s target price would suggest a potential upside of 11.45% from the company’s current price.

A number of other equities research analysts also recently weighed in on PFPT. BidaskClub raised shares of Proofpoint from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Mizuho began coverage on shares of Proofpoint in a report on Tuesday, March 26th. They issued a “neutral” rating and a $120.00 price target for the company. Bank of America began coverage on shares of Proofpoint in a report on Friday, April 12th. They issued a “buy” rating and a $155.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of Proofpoint in a report on Friday, April 12th. Finally, KeyCorp upped their price target on shares of Proofpoint from $120.00 to $136.00 and gave the company an “overweight” rating in a report on Monday, February 25th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Proofpoint currently has an average rating of “Buy” and a consensus target price of $127.45.

PFPT stock traded down $0.88 during trading on Wednesday, hitting $122.93. The company had a trading volume of 542,738 shares, compared to its average volume of 603,636. The company has a market capitalization of $6.81 billion, a P/E ratio of -106.90 and a beta of 1.83. Proofpoint has a fifty-two week low of $75.92 and a fifty-two week high of $130.27.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, January 31st. The software maker reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.15. The business had revenue of $198.48 million during the quarter, compared to the consensus estimate of $192.92 million. Proofpoint had a negative net margin of 14.47% and a negative return on equity of 12.20%. On average, sell-side analysts expect that Proofpoint will post -1.18 EPS for the current fiscal year.

In other Proofpoint news, EVP David Knight sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $122.16, for a total transaction of $183,240.00. Following the completion of the sale, the executive vice president now directly owns 18,089 shares of the company’s stock, valued at $2,209,752.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul R. Auvil III sold 30,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $121.23, for a total transaction of $3,636,900.00. Following the sale, the chief financial officer now directly owns 104,192 shares of the company’s stock, valued at $12,631,196.16. The disclosure for this sale can be found here. Insiders have sold 132,958 shares of company stock valued at $16,011,870 over the last ninety days. Insiders own 3.37% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. MML Investors Services LLC increased its holdings in shares of Proofpoint by 0.9% in the 4th quarter. MML Investors Services LLC now owns 9,399 shares of the software maker’s stock valued at $788,000 after purchasing an additional 88 shares during the period. Nordea Investment Management AB increased its holdings in shares of Proofpoint by 47.0% in the 3rd quarter. Nordea Investment Management AB now owns 38,848 shares of the software maker’s stock valued at $4,130,000 after purchasing an additional 12,420 shares during the period. Thornburg Investment Management Inc. increased its holdings in shares of Proofpoint by 90.4% in the 4th quarter. Thornburg Investment Management Inc. now owns 123,938 shares of the software maker’s stock valued at $10,387,000 after purchasing an additional 58,838 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Proofpoint by 13.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 5,933 shares of the software maker’s stock valued at $480,000 after purchasing an additional 686 shares during the period. Finally, Handelsinvest Investeringsforvaltning increased its holdings in shares of Proofpoint by 19.9% in the 4th quarter. Handelsinvest Investeringsforvaltning now owns 41,248 shares of the software maker’s stock valued at $3,457,000 after purchasing an additional 6,848 shares during the period. Institutional investors own 95.85% of the company’s stock.

About Proofpoint

Proofpoint, Inc operates as a security-as-a-service 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.

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Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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