Shares of Proofpoint Inc. (NASDAQ:PFPT) have earned a consensus recommendation of “Buy” from the twenty-nine research firms that are presently covering the firm. Two analysts have rated the stock with a hold recommendation, twenty-five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $80.87.
A number of equities analysts have commented on PFPT shares. Imperial Capital reaffirmed an “outperform” rating and issued a $85.00 price objective (up previously from $83.00) on shares of Proofpoint in a report on Monday, October 24th. Wells Fargo & Co. reiterated a “buy” rating on shares of Proofpoint in a research note on Sunday, September 25th. Wedbush reiterated an “outperform” rating and issued a $83.00 target price (down from $87.00) on shares of Proofpoint in a research note on Wednesday, October 19th. Zacks Investment Research upgraded Proofpoint from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research note on Wednesday, July 27th. Finally, Summit Redstone set a $90.00 target price on Proofpoint and gave the company a “buy” rating in a research note on Tuesday, August 16th.
Shares of Proofpoint (NASDAQ:PFPT) traded down 1.61% during midday trading on Wednesday, reaching $83.56. 354,254 shares of the company were exchanged. The firm’s 50 day moving average is $76.58 and its 200-day moving average is $70.52. Proofpoint has a 52-week low of $35.56 and a 52-week high of $88.00. The company’s market capitalization is $3.55 billion.
Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The firm earned $99.80 million during the quarter, compared to the consensus estimate of $94.27 million. Proofpoint had a negative net margin of 34.83% and a negative return on equity of 119.85%. The firm’s revenue was up 44.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. On average, equities analysts forecast that Proofpoint will post $0.32 earnings per share for the current fiscal year.
In other Proofpoint news, EVP Tracey Newell sold 3,645 shares of the business’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $70.54, for a total value of $257,118.30. Following the sale, the executive vice president now directly owns 30,078 shares in the company, valued at $2,121,702.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Knight sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $78.14, for a total transaction of $234,420.00. Following the completion of the sale, the executive vice president now owns 8,889 shares in the company, valued at $694,586.46. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of PFPT. Essex Investment Management Co. LLC bought a new position in shares of Proofpoint during the second quarter worth $1,060,000. Falcon Point Capital LLC boosted its position in shares of Proofpoint by 28.4% in the second quarter. Falcon Point Capital LLC now owns 239,287 shares of the company’s stock worth $15,097,000 after buying an additional 52,903 shares in the last quarter. Strs Ohio boosted its position in shares of Proofpoint by 85.2% in the second quarter. Strs Ohio now owns 5,000 shares of the company’s stock worth $315,000 after buying an additional 2,300 shares in the last quarter. RS Investment Management Co. LLC boosted its position in shares of Proofpoint by 0.5% in the second quarter. RS Investment Management Co. LLC now owns 1,418,156 shares of the company’s stock worth $89,471,000 after buying an additional 7,597 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Proofpoint during the second quarter worth $8,606,000.
Proofpoint Company Profile
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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