Cowen and Company initiated coverage on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a report published on Thursday. The brokerage issued an outperform rating and a $105.00 price target on the software maker’s stock.

PFPT has been the topic of several other reports. Zacks Investment Research cut shares of Proofpoint from a buy rating to a hold rating in a report on Friday, August 11th. Imperial Capital reaffirmed an outperform rating and issued a $102.00 price target (up from $100.00) on shares of Proofpoint in a report on Wednesday, August 2nd. Piper Jaffray Companies set a $100.00 price target on shares of Proofpoint and gave the company a buy rating in a report on Thursday, July 27th. Needham & Company LLC started coverage on shares of Proofpoint in a report on Friday, July 21st. They issued a buy rating and a $115.00 price target on the stock. Finally, Dougherty & Co upped their price target on shares of Proofpoint from $95.00 to $100.00 and gave the company a buy rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-one have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $93.43.

Proofpoint (NASDAQ PFPT) opened at 87.60 on Thursday. The stock’s market cap is $3.89 billion. The firm has a 50-day moving average of $87.74 and a 200 day moving average of $82.79. Proofpoint has a 12 month low of $68.04 and a 12 month high of $94.33.

Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05. The business had revenue of $122.30 million during the quarter, compared to the consensus estimate of $119.58 million. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. Analysts anticipate that Proofpoint will post $0.65 EPS for the current year.

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In related news, CFO Paul R. Auvil III sold 25,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $90.54, for a total value of $2,263,500.00. Following the sale, the chief financial officer now owns 104,705 shares of the company’s stock, valued at approximately $9,479,990.70. The transaction was disclosed in a 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 Wednesday, July 12th. The stock was sold at an average price of $87.11, for a total transaction of $3,484,400.00. Following the completion of the sale, the chief executive officer now directly owns 88,551 shares in the company, valued at approximately $7,713,677.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,299 shares of company stock worth $10,659,083. Corporate insiders own 6.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PFPT. Dynamic Technology Lab Private Ltd purchased a new stake in Proofpoint during the second quarter worth $215,000. Wasatch Advisors Inc. boosted its stake in Proofpoint by 52.2% in the second quarter. Wasatch Advisors Inc. now owns 728,526 shares of the software maker’s stock worth $63,258,000 after buying an additional 249,919 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Proofpoint by 46.1% in the second quarter. Public Employees Retirement System of Ohio now owns 20,142 shares of the software maker’s stock worth $1,749,000 after buying an additional 6,357 shares during the period. Sterling Capital Management LLC boosted its stake in Proofpoint by 41.9% in the second quarter. Sterling Capital Management LLC now owns 33,497 shares of the software maker’s stock worth $2,909,000 after buying an additional 9,884 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its stake in Proofpoint by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,771 shares of the software maker’s stock worth $327,000 after buying an additional 245 shares during the period.

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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