Proofpoint Inc (PFPT) Coverage Initiated at Stifel Nicolaus

Stock analysts at Stifel Nicolaus assumed coverage on shares of Proofpoint Inc (NASDAQ:PFPT) in a research note issued on Wednesday. The brokerage set a “buy” rating and a $90.00 price target on the software maker’s stock. Stifel Nicolaus’ price target suggests a potential downside of 3.18% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Proofpoint in a report on Monday, April 3rd. Piper Jaffray Companies set a $90.00 price target on Proofpoint and gave the company a “buy” rating in a report on Friday, April 21st. FBN Securities assumed coverage on Proofpoint in a report on Monday, May 22nd. They set an “outperform” rating and a $95.00 price target for the company. Susquehanna Bancshares Inc assumed coverage on Proofpoint in a report on Wednesday. They set a “positive” rating and a $106.00 price target for the company. Finally, Wunderlich reiterated a “buy” rating and set a $93.00 price target on shares of Proofpoint in a report on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. Proofpoint currently has an average rating of “Buy” and an average price target of $85.83.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

Shares of Proofpoint (NASDAQ:PFPT) opened at 92.96 on Wednesday. Proofpoint has a 52-week low of $57.13 and a 52-week high of $94.33. The firm’s market cap is $4.06 billion. The company’s 50-day moving average is $82.17 and its 200-day moving average is $78.73.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, April 20th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The business had revenue of $113.30 million during the quarter, compared to analyst estimates of $110.60 million. Proofpoint had a negative return on equity of 250.33% and a negative net margin of 22.50%. The firm’s revenue was up 43.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. Equities research analysts forecast that Proofpoint will post $0.59 earnings per share for the current fiscal year.

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In other news, Chairman Eric Hahn sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $89.03, for a total value of $445,150.00. Following the transaction, the chairman now owns 66,760 shares of the company’s stock, valued at $5,943,642.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Robert Darren Lee sold 2,750 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $87.75, for a total transaction of $241,312.50. Following the completion of the transaction, the senior vice president now directly owns 7,619 shares in the company, valued at approximately $668,567.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 229,549 shares of company stock worth $18,600,894. Insiders own 6.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFPT. Vanguard Group Inc. boosted its position in Proofpoint by 6.7% in the first quarter. Vanguard Group Inc. now owns 3,314,857 shares of the software maker’s stock valued at $246,493,000 after buying an additional 207,412 shares during the last quarter. BlackRock Inc. boosted its position in Proofpoint by 22,439.7% in the first quarter. BlackRock Inc. now owns 3,193,429 shares of the software maker’s stock valued at $237,464,000 after buying an additional 3,179,261 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in Proofpoint by 161.6% in the first quarter. Artisan Partners Limited Partnership now owns 2,313,715 shares of the software maker’s stock valued at $172,048,000 after buying an additional 1,429,192 shares during the last quarter. Macquarie Group Ltd. boosted its position in Proofpoint by 17.0% in the fourth quarter. Macquarie Group Ltd. now owns 852,205 shares of the software maker’s stock valued at $60,208,000 after buying an additional 123,655 shares during the last quarter. Finally, State Street Corp boosted its position in Proofpoint by 3.3% in the first quarter. State Street Corp now owns 791,294 shares of the software maker’s stock valued at $58,840,000 after buying an additional 25,368 shares during the last quarter.

About Proofpoint

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PFPT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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