Proofpoint, Inc. (NASDAQ:PFPT) had its price target upped by Imperial Capital from $102.00 to $110.00 in a research report sent to investors on Friday morning. The firm currently has an outperform rating on the software maker’s stock.
Several other research analysts also recently commented on the company. Piper Jaffray Companies set a $105.00 price target on Proofpoint and gave the stock a buy rating in a research report on Friday. Evercore ISI set a $105.00 price target on Proofpoint and gave the stock a buy rating in a research report on Friday. Deutsche Bank AG reaffirmed a buy rating and issued a $114.00 price target (up from $100.00) on shares of Proofpoint in a research report on Wednesday. Stifel Nicolaus set a $100.00 price target on Proofpoint and gave the stock a buy rating in a research report on Monday, October 16th. Finally, Monness Crespi & Hardt began coverage on Proofpoint in a research report on Monday, October 16th. They issued a buy rating and a $110.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $100.80.
Proofpoint (NASDAQ:PFPT) traded up 1.06% during trading on Friday, hitting $96.11. The stock had a trading volume of 1,650,625 shares. The company’s 50-day moving average is $91.43 and its 200 day moving average is $86.47. The firm’s market cap is $4.27 billion. Proofpoint has a 52 week low of $69.19 and a 52 week high of $97.92.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The company had revenue of $134.30 million for the quarter, compared to the consensus estimate of $131.48 million. Proofpoint had a negative return on equity of 152.53% and a negative net margin of 20.19%. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. Equities analysts expect that Proofpoint will post $0.65 EPS for the current fiscal year.
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In related news, EVP Tracey Newell sold 8,183 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $88.59, for a total value of $724,931.97. Following the sale, the executive vice president now owns 25,762 shares of the company’s stock, valued at approximately $2,282,255.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Knight sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $90.76, for a total value of $272,280.00. Following the completion of the sale, the executive vice president now directly owns 16,874 shares in the company, valued at approximately $1,531,484.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,549 shares of company stock worth $15,226,339. 6.80% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in PFPT. Karp Capital Management Corp acquired a new stake in Proofpoint in the 1st quarter valued at $223,000. Envestnet Asset Management Inc. boosted its stake in Proofpoint by 18.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock valued at $215,000 after buying an additional 446 shares in the last quarter. Credit Agricole S A acquired a new stake in Proofpoint in the 1st quarter valued at $871,000. Teachers Advisors LLC boosted its stake in Proofpoint by 1.2% in the 1st quarter. Teachers Advisors LLC now owns 294,289 shares of the software maker’s stock valued at $21,883,000 after buying an additional 3,539 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Proofpoint by 48.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,702 shares of the software maker’s stock valued at $275,000 after buying an additional 1,202 shares in the last quarter.
Proofpoint Company Profile
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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