Proofpoint Inc. (NASDAQ:PFPT) has received a consensus rating of “Buy” from the twenty-nine research firms that are currently covering the company. Two investment analysts have rated the stock with a hold recommendation, twenty-five have given a buy recommendation and one has issued a strong buy recommendation on 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 brokerages have recently weighed in on PFPT. BTIG Research reaffirmed a “buy” rating and set a $32.00 price target on shares of Proofpoint in a report on Friday, October 21st. Needham & Company LLC began coverage on shares of Proofpoint in a report on Monday, August 1st. They set a “buy” rating and a $88.00 price target for the company. Robert W. Baird began coverage on shares of Proofpoint in a report on Monday, November 14th. They set an “outperform” rating and a $92.00 price target for the company. Rosenblatt Securities began coverage on shares of Proofpoint in a report on Monday, August 1st. They set a “buy” rating and a $95.00 price target for the company. Finally, Wunderlich began coverage on shares of Proofpoint in a research report on Tuesday, September 13th. They set a “buy” rating and a $90.00 price objective for the company.

In other Proofpoint news, CEO Gary Steele sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $73.93, for a total value of $1,478,600.00. Following the transaction, the chief executive officer now directly owns 34,629 shares of the company’s stock, valued at $2,560,121.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Darren Lee sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $76.83, for a total transaction of $153,660.00. Following the completion of the transaction, the senior vice president now directly owns 1,203 shares in the company, valued at $92,426.49. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFPT. Principal Financial Group Inc. raised its position in Proofpoint by 1.1% in the third quarter. Principal Financial Group Inc. now owns 5,523 shares of the company’s stock worth $413,000 after buying an additional 62 shares during the last quarter. Geneva Advisors LLC raised its position in Proofpoint by 0.7% in the third quarter. Geneva Advisors LLC now owns 8,864 shares of the company’s stock worth $663,000 after buying an additional 65 shares during the last quarter. BOKF NA raised its position in Proofpoint by 2.4% in the third quarter. BOKF NA now owns 3,126 shares of the company’s stock worth $234,000 after buying an additional 73 shares during the last quarter. US Bancorp DE raised its position in Proofpoint by 5.9% in the second quarter. US Bancorp DE now owns 2,067 shares of the company’s stock worth $130,000 after buying an additional 115 shares during the last quarter. Finally, Amalgamated Bank raised its position in Proofpoint by 4.0% in the second quarter. Amalgamated Bank now owns 4,314 shares of the company’s stock worth $324,000 after buying an additional 164 shares during the last quarter.

Proofpoint (NASDAQ:PFPT) opened at 84.07 on Wednesday. The company’s market capitalization is $3.57 billion. The firm has a 50-day moving average of $77.27 and a 200-day moving average of $70.83. Proofpoint has a 52 week low of $35.56 and a 52 week high of $88.00.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, October 20th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.14. Proofpoint had a negative net margin of 34.83% and a negative return on equity of 119.85%. The company earned $99.80 million during the quarter, compared to the consensus estimate of $94.27 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. The firm’s quarterly revenue was up 44.4% on a year-over-year basis. Equities analysts expect that Proofpoint will post $0.32 earnings per share for the current fiscal year.

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About Proofpoint

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.

5 Day Chart for NASDAQ:PFPT

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