Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research note issued to investors on Friday. They currently have a $93.00 target price on the software maker’s stock, down from their previous target price of $98.00. Wedbush’s price objective would suggest a potential upside of 6.63% from the stock’s previous close.

PFPT has been the topic of a number of other reports. Goldman Sachs Group, Inc. (The) lowered shares of Proofpoint from a “neutral” rating to a “sell” rating and set a $69.00 price objective on the stock. in a report on Thursday, March 23rd. Zacks Investment Research lowered shares of Proofpoint from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Rosenblatt Securities reissued a “buy” rating and set a $95.00 price objective on shares of Proofpoint in a report on Sunday, April 23rd. DA Davidson raised shares of Proofpoint from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $83.00 to $90.00 in a report on Wednesday, April 19th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Proofpoint in a report on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $88.09.

Proofpoint (PFPT) opened at 87.22 on Friday. The company’s market capitalization is $3.81 billion. The firm has a 50-day moving average price of $86.61 and a 200 day moving average price of $79.84. Proofpoint has a 52-week low of $64.62 and a 52-week high of $94.33.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, April 20th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $113.30 million for the quarter, compared to the consensus estimate of $110.60 million. Proofpoint had a negative return on equity of 126.46% and a negative net margin of 25.63%. The business’s quarterly revenue was up 43.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) earnings per share. On average, analysts predict that Proofpoint will post $0.59 earnings per share for the current fiscal year.

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In other Proofpoint news, EVP David Knight sold 3,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $92.45, for a total value of $277,350.00. Following the completion of the sale, the executive vice president now owns 16,874 shares in the company, valued at approximately $1,560,001.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gary Steele sold 40,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $80.38, for a total transaction of $3,215,200.00. Following the completion of the sale, the chief executive officer now owns 61,780 shares of the company’s stock, valued at approximately $4,965,876.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,549 shares of company stock valued at $16,121,539. 6.80% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Creative Planning boosted its stake in Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after buying an additional 154 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Proofpoint by 0.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,409 shares of the software maker’s stock worth $1,583,000 after buying an additional 180 shares during the last quarter. Wedbush Securities Inc. boosted its position in Proofpoint by 4.8% in the first quarter. Wedbush Securities Inc. now owns 5,864 shares of the software maker’s stock worth $436,000 after buying an additional 267 shares during the last quarter. Legal & General Group Plc boosted its position in Proofpoint by 3.1% in the first quarter. Legal & General Group Plc now owns 14,253 shares of the software maker’s stock worth $1,060,000 after buying an additional 435 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Proofpoint by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock worth $215,000 after buying an additional 446 shares during the last quarter.

Proofpoint Company Profile

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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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