Proofpoint’s (PFPT) Buy Rating Reiterated at Deutsche Bank AG
Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating reiterated by equities research analysts at Deutsche Bank AG in a research note issued on Wednesday.
Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus set a $100.00 target price on Proofpoint and gave the company a “buy” rating in a research note on Monday. Piper Jaffray Companies set a $100.00 target price on Proofpoint and gave the company a “buy” rating in a research note on Sunday. Monness Crespi & Hardt began coverage on Proofpoint in a research note on Monday. They set a “buy” rating and a $110.00 target price on the stock. Robert W. Baird reissued a “hold” rating and set a $95.00 target price on shares of Proofpoint in a research note on Friday, October 13th. Finally, Macquarie reissued an “outperform” rating and set a $103.00 target price on shares of Proofpoint in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $99.52.
Proofpoint (NASDAQ:PFPT) traded up 0.02% during trading on Wednesday, hitting $94.33. The company’s stock had a trading volume of 441,936 shares. Proofpoint has a 12 month low of $68.45 and a 12 month high of $97.00. The firm has a 50 day moving average of $90.88 and a 200 day moving average of $85.90. The firm’s market cap is $4.19 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 Thomson Reuters’ consensus estimate of $0.12 by $0.05. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The firm had revenue of $122.30 million for the quarter, compared to analysts’ expectations of $119.58 million. During the same period in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 36.0% compared to the same quarter last year. Equities research analysts predict that Proofpoint will post $0.65 earnings per share for the current year.
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In other news, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $88.59, for a total transaction of $724,931.97. Following the transaction, the executive vice president now directly owns 25,762 shares of the company’s stock, valued at $2,282,255.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary Steele sold 40,000 shares of the company’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $92.35, for a total value of $3,694,000.00. The disclosure for this sale can be found here. Insiders sold 160,366 shares of company stock worth $14,450,427 over the last three months. Corporate insiders own 6.80% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Proofpoint during the second quarter valued at $215,000. Wasatch Advisors Inc. lifted its holdings in shares of Proofpoint by 52.2% during the second quarter. Wasatch Advisors Inc. now owns 728,526 shares of the software maker’s stock valued at $63,258,000 after purchasing an additional 249,919 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Proofpoint by 46.1% during the second quarter. Public Employees Retirement System of Ohio now owns 20,142 shares of the software maker’s stock valued at $1,749,000 after purchasing an additional 6,357 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Proofpoint by 41.9% during the second quarter. Sterling Capital Management LLC now owns 33,497 shares of the software maker’s stock valued at $2,909,000 after purchasing an additional 9,884 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Proofpoint by 6.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,771 shares of the software maker’s stock valued at $327,000 after purchasing an additional 245 shares in 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.
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