Proofpoint Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating reaffirmed by equities researchers at Deutsche Bank AG in a note issued to investors on Friday.
A number of other brokerages have also commented on PFPT. Wells Fargo & Co. reissued a “buy” rating on shares of Proofpoint in a research note on Sunday, September 25th. Summit Redstone began coverage on Proofpoint in a research note on Tuesday, August 16th. They set a “buy” rating and a $90.00 price target for the company. Wunderlich began coverage on Proofpoint in a research note on Tuesday, September 13th. They set a “buy” rating and a $90.00 price target for the company. Rosenblatt Securities began coverage on Proofpoint in a research note on Monday, August 1st. They set a “buy” rating and a $95.00 price target for the company. Finally, FBR & Co reissued an “outperform” rating on shares of Proofpoint in a research note on Thursday, August 25th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $79.44.
Proofpoint (NASDAQ:PFPT) opened at 70.30 on Friday. The stock’s market capitalization is $2.95 billion. The stock’s 50 day moving average price is $75.24 and its 200 day moving average price is $66.01. Proofpoint has a 1-year low of $35.56 and a 1-year high of $80.68.
Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.13. The firm earned $89.90 million during the quarter, compared to analyst estimates of $84.22 million. Proofpoint had a negative return on equity of 120.27% and a negative net margin of 41.46%. On average, equities research analysts predict that Proofpoint will post $0.09 earnings per share for the current fiscal year.
In other news, EVP David Knight sold 10,000 shares of Proofpoint stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $70.20, for a total value of $702,000.00. Following the transaction, the executive vice president now directly owns 15,889 shares in the company, valued at approximately $1,115,407.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracey Newell sold 20,000 shares of Proofpoint stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $75.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 36,217 shares in the company, valued at $2,716,275. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hunt Lane Capital LP bought a new position in shares of Proofpoint during the first quarter worth about $43,024,000. Jericho Capital Asset Management L.P. boosted its stake in Proofpoint by 71.0% in the first quarter. Jericho Capital Asset Management L.P. now owns 1,406,938 shares of the company’s stock worth $75,665,000 after buying an additional 584,125 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Proofpoint during the second quarter worth $26,398,000. HHR Asset Management LLC acquired a new stake in Proofpoint during the second quarter worth $15,927,000. Finally, Thrax Management LLC boosted its stake in Proofpoint by 204.5% in the first quarter. Thrax Management LLC now owns 347,058 shares of the company’s stock worth $18,665,000 after buying an additional 233,084 shares during the last quarter.
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations around the world. The Company’s security-as-a-service platform consists of a suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
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