Proofpoint’s (PFPT) “Hold” Rating Reaffirmed at Robert W. Baird
Robert W. Baird reaffirmed their hold rating on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research note published on Friday morning. They currently have a $100.00 price target on the software maker’s stock, up from their previous price target of $95.00.
PFPT has been the topic of several other research reports. Royal Bank Of Canada reaffirmed a buy rating and set a $103.00 price objective on shares of Proofpoint in a research note on Thursday, August 31st. Wedbush reiterated an outperform rating and set a $104.00 target price (up previously from $98.00) on shares of Proofpoint in a report on Friday, July 28th. Piper Jaffray Companies set a $100.00 target price on Proofpoint and gave the stock a buy rating in a report on Sunday, October 15th. Evercore ISI set a $105.00 target price on Proofpoint and gave the stock a buy rating in a report on Friday. Finally, Zacks Investment Research upgraded Proofpoint from a hold rating to a buy rating and set a $95.00 target price for the company in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $100.80.
Proofpoint (PFPT) traded up 1.06% during mid-day trading on Friday, hitting $96.11. The stock had a trading volume of 1,650,625 shares. The stock has a 50 day moving average of $91.43 and a 200-day moving average of $86.47. The firm’s market cap is $4.27 billion. Proofpoint has a 1-year low of $69.19 and a 1-year high of $97.92.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The business had revenue of $134.30 million for the quarter, compared to the consensus estimate of $131.48 million. Proofpoint had a negative return on equity of 152.53% and a negative net margin of 20.19%. The firm’s revenue was up 34.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. Analysts predict that Proofpoint will post $0.65 EPS for the current fiscal year.
In other news, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $89.54, for a total value of $3,581,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,551 shares in the company, valued at $7,928,856.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tracey Newell sold 8,183 shares of Proofpoint stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $88.59, for a total transaction of $724,931.97. Following the completion of the sale, the executive vice president now owns 25,762 shares of the company’s stock, valued at $2,282,255.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,549 shares of company stock valued at $15,226,339. 6.80% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank raised its position in Proofpoint by 0.4% during the second quarter. Comerica Bank now owns 13,207 shares of the software maker’s stock valued at $1,210,000 after purchasing an additional 51 shares in the last quarter. Creative Planning raised its position in Proofpoint by 7.4% during the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after purchasing an additional 154 shares in the last quarter. PNC Financial Services Group Inc. raised its position 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 valued at $339,000 after purchasing an additional 200 shares in the last quarter. Principal Financial Group Inc. raised its position in Proofpoint by 3.8% during the second quarter. Principal Financial Group Inc. now owns 5,976 shares of the software maker’s stock valued at $519,000 after purchasing an additional 216 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position 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 valued at $1,965,000 after purchasing an additional 222 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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