Proofpoint (PFPT) Given a $142.00 Price Target at Morgan Stanley

Morgan Stanley set a $142.00 price objective on Proofpoint (NASDAQ:PFPT) in a research note released on Friday morning, Stock Target Advisor reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other brokerages have also recently issued reports on PFPT. Zacks Investment Research raised shares of Proofpoint from a hold rating to a buy rating and set a $90.00 target price for the company in a report on Monday, December 31st. Wedbush reduced their target price on shares of Proofpoint from $124.00 to $115.00 and set an outperform rating for the company in a report on Tuesday, January 8th. They noted that the move was a valuation call. BidaskClub raised shares of Proofpoint from a hold rating to a buy rating in a report on Tuesday, January 29th. Monness Crespi & Hardt raised their target price on shares of Proofpoint from $115.00 to $120.00 and gave the stock a buy rating in a report on Friday, February 1st. Finally, ValuEngine raised shares of Proofpoint from a buy rating to a strong-buy rating in a report on Saturday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Proofpoint presently has a consensus rating of Buy and a consensus target price of $132.33.

NASDAQ PFPT opened at $124.55 on Friday. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of -108.30 and a beta of 1.83. Proofpoint has a 12-month low of $75.92 and a 12-month high of $131.43.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, April 25th. The software maker reported ($0.33) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.33). The business had revenue of $202.90 million during the quarter, compared to analysts’ expectations of $199.32 million. Proofpoint had a negative net margin of 15.82% and a negative return on equity of 14.48%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. As a group, sell-side analysts expect that Proofpoint will post -1.18 EPS for the current year.

In related news, EVP David Knight sold 1,500 shares of the firm’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $101.43, for a total transaction of $152,145.00. Following the sale, the executive vice president now owns 11,814 shares in the company, valued at $1,198,294.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Robert Darren Lee sold 8,031 shares of the firm’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $114.43, for a total transaction of $918,987.33. Following the sale, the senior vice president now owns 6,698 shares in the company, valued at approximately $766,452.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,958 shares of company stock worth $16,011,870. 3.37% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. World Asset Management Inc acquired a new stake in Proofpoint during the first quarter valued at $207,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Proofpoint by 1.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 175,328 shares of the software maker’s stock valued at $21,290,000 after buying an additional 2,201 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its position in Proofpoint by 505.6% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 71,447 shares of the software maker’s stock valued at $8,676,000 after buying an additional 59,650 shares during the period. Virginia Retirement Systems ET AL grew its position in Proofpoint by 34.8% during the first quarter. Virginia Retirement Systems ET AL now owns 12,400 shares of the software maker’s stock valued at $1,506,000 after buying an additional 3,200 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in Proofpoint by 15.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,441 shares of the software maker’s stock valued at $661,000 after buying an additional 746 shares during the period. Institutional investors own 96.19% of the company’s stock.

Proofpoint Company Profile

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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