Proofpoint, Inc. (PFPT) Price Target Raised to $100.00
Proofpoint, Inc. (NASDAQ:PFPT) had its price target increased by Deutsche Bank AG from $95.00 to $100.00 in a research report report published on Friday. Deutsche Bank AG currently has a buy rating on the software maker’s stock.
A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley restated an overweight rating and issued a $102.00 price objective (up previously from $97.00) on shares of Proofpoint in a report on Thursday, July 20th. Stifel Nicolaus restated a buy rating on shares of Proofpoint in a report on Friday, June 23rd. Northland Securities restated a buy rating and issued a $100.00 price objective on shares of Proofpoint in a report on Friday, June 30th. FBN Securities initiated coverage on shares of Proofpoint in a report on Monday, May 22nd. They issued an outperform rating and a $95.00 price objective on the stock. Finally, ValuEngine upgraded shares of Proofpoint from a sell rating to a hold rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company. Proofpoint presently has a consensus rating of Buy and a consensus target price of $95.52.
Shares of Proofpoint (PFPT) opened at 91.94 on Friday. Proofpoint has a 52 week low of $68.04 and a 52 week high of $97.00. The stock has a 50 day moving average price of $89.04 and a 200 day moving average price of $83.68. The firm’s market capitalization is $4.08 billion.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. The business had revenue of $122.30 million for the quarter, compared to analysts’ expectations 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 revenue was up 36.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 earnings per share. Analysts forecast that Proofpoint will post $0.65 EPS for the current year.
In related news, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $87.69, for a total value of $717,567.27. Following the sale, the executive vice president now owns 15,195 shares in the company, valued at $1,332,449.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bhagwat Swaroop sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $85.17, for a total transaction of $425,850.00. Following the completion of the sale, the executive vice president now owns 13,161 shares in the company, valued at approximately $1,120,922.37. The disclosure for this sale can be found here. Insiders sold 125,549 shares of company stock worth $11,072,191 in the last 90 days. 6.80% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFPT. D.A. Davidson & CO. raised its position in Proofpoint by 57.9% in the second quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock worth $102,000 after acquiring an additional 431 shares during the period. Fortaleza Asset Management Inc. raised its position in Proofpoint by 22.4% in the second quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock worth $147,000 after acquiring an additional 310 shares during the period. DekaBank Deutsche Girozentrale raised its position in Proofpoint by 400.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock worth $185,000 after acquiring an additional 2,000 shares during the period. Creative Planning raised its position in 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 acquiring an additional 154 shares during the period. Finally, Legato Capital Management LLC bought a new position in Proofpoint in the second quarter worth approximately $204,000.
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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