Proofpoint Inc. (PFPT) Earns Outperform Rating from Analysts at Robert W. Baird
Robert W. Baird started coverage on shares of Proofpoint Inc. (NASDAQ:PFPT) in a research report report published on Monday. The brokerage issued an outperform rating and a $92.00 price objective on the stock.
Several other equities analysts have also commented on PFPT. Needham & Company LLC initiated coverage on Proofpoint in a research note on Monday, August 1st. They issued a buy rating and a $88.00 price target on the stock. BTIG Research reissued a buy rating and set a $32.00 target price on shares of Proofpoint in a research note on Friday, October 21st. FBR & Co restated an outperform rating on shares of Proofpoint in a report on Thursday, August 25th. Wells Fargo & Co. restated a buy rating on shares of Proofpoint in a report on Sunday, September 25th. Finally, Wunderlich upped their price target on Proofpoint from $75.00 to $83.00 and gave the stock a buy rating in a report on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $79.33.
Proofpoint (NASDAQ:PFPT) opened at 86.28 on Monday. Proofpoint has a 52 week low of $35.56 and a 52 week high of $87.00. The company’s 50-day moving average is $75.37 and its 200 day moving average is $69.58. The company’s market capitalization is $3666.21 billion.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, October 20th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.14. Proofpoint had a negative return on equity of 119.85% and a negative net margin of 34.83%. The firm earned $99.80 million during the quarter, compared to analysts’ expectations of $94.27 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 44.4% on a year-over-year basis. On average, analysts forecast that Proofpoint will post $0.32 EPS for the current fiscal year.
In other Proofpoint news, SVP Robert Darren Lee sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $78.34, for a total transaction of $156,680.00. Following the transaction, the senior vice president now owns 1,203 shares in the company, valued at approximately $94,243.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $76.04, for a total value of $380,200.00. Following the transaction, the chairman now directly owns 121,215 shares in the company, valued at approximately $9,217,188.60. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of PFPT. Vanguard Group Inc. raised its position in Proofpoint by 3.3% in the second quarter. Vanguard Group Inc. now owns 2,900,093 shares of the company’s stock valued at $182,967,000 after buying an additional 93,122 shares during the last quarter. RS Investment Management Co. LLC raised its position in Proofpoint by 0.5% in the second quarter. RS Investment Management Co. LLC now owns 1,418,156 shares of the company’s stock valued at $89,471,000 after buying an additional 7,597 shares during the last quarter. Jericho Capital Asset Management L.P. raised its position 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 valued at $75,665,000 after buying an additional 584,125 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Proofpoint during the third quarter valued at about $93,050,000. Finally, BlackRock Institutional Trust Company N.A. raised its position in Proofpoint by 13.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,153,759 shares of the company’s stock valued at $86,359,000 after buying an additional 133,224 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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