Proofpoint, Inc. (PFPT) Receives Average Recommendation of “Buy” from Analysts
Shares of Proofpoint, Inc. (NASDAQ:PFPT) have earned a consensus recommendation of “Buy” from the twenty-five brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-one have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $97.58.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Proofpoint from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Cowen and Company assumed coverage on shares of Proofpoint in a report on Thursday, August 17th. They set an “outperform” rating and a $105.00 target price for the company. Zacks Investment Research cut shares of Proofpoint from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Northland Securities set a $100.00 target price on shares of Proofpoint and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $102.00 target price (up previously from $100.00) on shares of Proofpoint in a research report on Wednesday, August 2nd.
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In other news, EVP David Knight sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $84.54, for a total value of $253,620.00. Following the completion of the sale, the executive vice president now directly owns 16,874 shares in the company, valued at approximately $1,426,527.96. The sale 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 business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $91.09, for a total value of $455,450.00. Following the completion of the sale, the chairman now owns 58,701 shares of the company’s stock, valued at $5,347,074.09. The disclosure for this sale can be found here. Insiders have sold a total of 161,299 shares of company stock worth $14,299,503 over the last three months. 6.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank increased its position in shares of Proofpoint by 0.4% in the second quarter. Comerica Bank now owns 13,207 shares of the software maker’s stock worth $1,210,000 after buying an additional 51 shares during the last quarter. Creative Planning increased its position in shares of Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after buying an additional 154 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Proofpoint by 5.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,902 shares of the software maker’s stock worth $339,000 after buying an additional 200 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Proofpoint by 3.8% in the second quarter. Principal Financial Group Inc. now owns 5,976 shares of the software maker’s stock worth $519,000 after buying an additional 216 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Proofpoint by 1.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 22,631 shares of the software maker’s stock worth $1,965,000 after buying an additional 222 shares during the last quarter.
Proofpoint (NASDAQ:PFPT) traded up 0.28% on Wednesday, reaching $90.68. 33,581 shares of the company were exchanged. The firm has a 50-day moving average of $88.27 and a 200 day moving average of $83.10. Proofpoint has a 12-month low of $68.04 and a 12-month high of $94.33. The firm’s market capitalization is $4.03 billion.
Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. The firm had revenue of $122.30 million during the quarter, compared to analysts’ expectations of $119.58 million. During the same period in the previous year, the business posted $0.06 EPS. The business’s revenue was up 36.0% compared to the same quarter last year. On average, equities analysts predict that Proofpoint will post $0.65 earnings per share for the current year.
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.
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