Goldman Sachs Group Inc lowered shares of Proofpoint Inc (NASDAQ:PFPT) from a neutral rating to a sell rating in a research report sent to investors on Thursday morning. They currently have $69.00 price objective on the stock.
PFPT has been the subject of a number of other reports. Wunderlich reissued a buy rating and issued a $93.00 price target (up from $90.00) on shares of Proofpoint in a research report on Sunday, January 29th. BTIG Research reissued a buy rating on shares of Proofpoint in a research report on Tuesday, January 24th. Zacks Investment Research raised shares of Proofpoint from a sell rating to a hold rating in a research report on Friday, January 27th. DA Davidson reissued a neutral rating and issued a $79.00 price target on shares of Proofpoint in a research report on Tuesday, January 24th. Finally, Wedbush increased their price target on shares of Proofpoint from $87.00 to $90.00 and gave the stock an outperform rating in a research report on Friday, January 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $83.62.
Proofpoint (NASDAQ:PFPT) opened at 74.67 on Thursday. The stock’s 50 day moving average is $80.05 and its 200-day moving average is $77.28. Proofpoint has a 52-week low of $46.58 and a 52-week high of $88.00. The firm’s market capitalization is $3.23 billion.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, January 26th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The business earned $106.80 million during the quarter, compared to analyst estimates of $104.81 million. Proofpoint had a negative net margin of 29.62% and a negative return on equity of 110.22%. The firm’s revenue was up 42.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) earnings per share. Equities analysts expect that Proofpoint will post $0.52 earnings per share for the current year.
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In other Proofpoint news, CEO Gary Steele sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $77.89, for a total transaction of $1,557,800.00. Following the transaction, the chief executive officer now owns 34,629 shares in the company, valued at $2,697,252.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert Darren Lee sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $71.50, for a total value of $214,500.00. Following the transaction, the senior vice president now owns 2,655 shares in the company, valued at approximately $189,832.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,290 shares of company stock worth $10,041,086. Corporate insiders own 6.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PFPT. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Proofpoint by 242.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,578 shares of the company’s stock valued at $113,000 after buying an additional 1,117 shares during the period. FNY Partners Fund LP bought a new position in shares of Proofpoint during the fourth quarter valued at approximately $141,000. BlackRock Japan Co. Ltd increased its position in shares of Proofpoint by 360.2% in the third quarter. BlackRock Japan Co. Ltd now owns 1,919 shares of the company’s stock valued at $144,000 after buying an additional 1,502 shares during the period. BOKF NA increased its position in shares of Proofpoint by 2.4% in the third quarter. BOKF NA now owns 3,126 shares of the company’s stock valued at $234,000 after buying an additional 73 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Proofpoint by 71.9% in the third quarter. BNP Paribas Arbitrage SA now owns 4,156 shares of the company’s stock valued at $311,000 after buying an additional 1,739 shares during the period.
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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