Wedbush reiterated their outperform rating on shares of Proofpoint (NASDAQ:PFPT) in a report issued on Friday morning. Wedbush currently has a $138.00 price objective on the software maker’s stock, up from their previous price objective of $130.00.
A number of other equities analysts also recently issued reports on the stock. BidaskClub upgraded shares of Proofpoint from a hold rating to a buy rating in a report on Tuesday, January 29th. Monness Crespi & Hardt increased their price target on shares of Proofpoint from $115.00 to $120.00 and gave the company a buy rating in a report on Friday, February 1st. Deutsche Bank increased their price target on shares of Proofpoint from $95.00 to $125.00 and gave the company a hold rating in a report on Thursday. KeyCorp increased 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. Finally, Morgan Stanley set a $120.00 price target on shares of Proofpoint and gave the company a buy rating in a report on Saturday, February 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $132.33.
Shares of PFPT opened at $124.55 on Friday. The stock has a market capitalization of $6.93 billion, a PE ratio of -108.30 and a beta of 1.83. Proofpoint has a 52-week low of $75.92 and a 52-week high of $131.43.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, April 25th. The software maker reported ($0.33) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.33). The business had revenue of $202.90 million during the quarter, compared to the consensus estimate 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 revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 EPS. As a group, analysts forecast that Proofpoint will post -1.18 earnings per share for the current fiscal year.
In other Proofpoint news, CFO Paul R. Auvil III sold 30,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $122.61, for a total transaction of $3,678,300.00. Following the sale, the chief financial officer now directly owns 106,208 shares of the company’s stock, valued at approximately $13,022,162.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bhagwat Swaroop sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $118.09, for a total transaction of $118,090.00. Following the sale, the executive vice president now directly owns 3,451 shares in the company, valued at $407,528.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,958 shares of company stock worth $16,011,870. 3.37% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in PFPT. Vanguard Group Inc. boosted its position in shares of Proofpoint by 3.2% in the third quarter. Vanguard Group Inc. now owns 4,460,432 shares of the software maker’s stock worth $474,277,000 after acquiring an additional 137,876 shares during the last quarter. Vanguard Group Inc raised its holdings in Proofpoint by 3.2% in the third quarter. Vanguard Group Inc now owns 4,460,432 shares of the software maker’s stock valued at $474,277,000 after buying an additional 137,876 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Proofpoint by 149.9% in the third quarter. TIAA CREF Investment Management LLC now owns 1,812,611 shares of the software maker’s stock valued at $192,735,000 after buying an additional 1,087,297 shares during the period. FMR LLC raised its holdings in Proofpoint by 9.5% in the fourth quarter. FMR LLC now owns 1,661,727 shares of the software maker’s stock valued at $139,269,000 after buying an additional 144,796 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Proofpoint by 2.8% in the third quarter. JPMorgan Chase & Co. now owns 1,427,064 shares of the software maker’s stock valued at $151,739,000 after buying an additional 38,862 shares during the period. 96.19% of the stock is currently owned by institutional investors.
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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