Wedbush reiterated their outperform rating on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a report issued on Friday. The firm currently has a $104.00 price objective on the software maker’s stock.

Several other research firms have also weighed in on PFPT. Cowen and Company initiated coverage on shares of Proofpoint in a research note on Thursday, August 17th. They set an outperform rating and a $105.00 price objective on the stock. ValuEngine raised shares of Proofpoint from a sell rating to a hold rating in a research note on Friday, June 2nd. Northland Securities reissued a buy rating and set a $100.00 price objective on shares of Proofpoint in a research note on Friday, June 30th. Needham & Company LLC initiated coverage on shares of Proofpoint in a research note on Friday, July 21st. They set a buy rating and a $115.00 price objective on the stock. Finally, Dougherty & Co lifted their price objective on shares of Proofpoint from $95.00 to $100.00 and gave the stock a buy rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $98.91.

Shares of Proofpoint (NASDAQ:PFPT) opened at 91.19 on Friday. The company has a 50 day moving average of $88.96 and a 200 day moving average of $83.71. Proofpoint has a 12 month low of $68.04 and a 12 month high of $97.00. The stock’s market cap is $4.05 billion.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, topping 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 business had revenue of $122.30 million for the quarter, compared to analyst estimates of $119.58 million. During the same quarter last year, the firm earned $0.06 EPS. Proofpoint’s quarterly revenue was up 36.0% compared to the same quarter last year. Equities research analysts expect that Proofpoint will post $0.65 earnings per share for the current fiscal year.

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In related news, EVP David Knight sold 3,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $84.54, for a total transaction of $253,620.00. Following the transaction, the executive vice president now directly owns 16,874 shares in the company, valued at $1,426,527.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $91.09, for a total transaction of $455,450.00. Following the transaction, the chairman now owns 58,701 shares in the company, valued at $5,347,074.09. The disclosure for this sale can be found here. In the last three months, insiders sold 125,549 shares of company stock worth $11,072,191. 6.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank increased its holdings in Proofpoint by 0.4% during 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 holdings in Proofpoint by 7.4% during 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 holdings in Proofpoint by 5.4% during 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 holdings in Proofpoint by 3.8% during 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 holdings in Proofpoint by 1.0% during 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.

About Proofpoint

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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