Proofpoint, Inc. (PFPT) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research note released on Monday morning. Needham & Company LLC currently has a $115.00 price objective on the software maker’s stock.

Several other equities research analysts have also weighed in on the company. Morgan Stanley reiterated an overweight rating and issued a $102.00 price objective (up from $97.00) on shares of Proofpoint in a research note on Thursday, July 20th. Stifel Nicolaus reiterated a buy rating on shares of Proofpoint in a research note on Friday, June 23rd. Northland Securities reiterated a buy rating and issued a $100.00 price objective on shares of Proofpoint in a research note on Friday, June 30th. FBN Securities started coverage on Proofpoint in a research note on Monday, May 22nd. They issued an outperform rating and a $95.00 price objective on the stock. Finally, ValuEngine upgraded Proofpoint from a sell rating to a hold rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have assigned a buy rating to the company. Proofpoint presently has an average rating of Buy and a consensus price target of $98.91.

Shares of Proofpoint (NASDAQ PFPT) opened at 87.78 on Monday. Proofpoint has a one year low of $68.04 and a one year high of $97.00. The company has a 50 day moving average price of $88.88 and a 200 day moving average price of $83.90. The company’s market cap is $3.90 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, beating the 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 company had revenue of $122.30 million for the quarter, compared to analyst estimates of $119.58 million. During the same period in the prior year, the company posted $0.06 EPS. The company’s 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 year.

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In other news, EVP Tracey Newell sold 8,183 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $87.69, for a total value of $717,567.27. Following the transaction, the executive vice president now owns 15,195 shares of the company’s stock, valued at approximately $1,332,449.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Bhagwat Swaroop sold 5,000 shares of the stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $85.17, for a total value of $425,850.00. Following the completion of the transaction, the executive vice president now directly owns 13,161 shares in the company, valued at approximately $1,120,922.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,549 shares of company stock worth $11,524,841. Company insiders own 6.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Proofpoint in the 2nd quarter valued at $215,000. Wasatch Advisors Inc. lifted its stake in shares of Proofpoint by 52.2% in the 2nd 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 during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Proofpoint by 46.1% in the 2nd 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 during the period. Sterling Capital Management LLC lifted its stake in shares of Proofpoint by 41.9% in the 2nd 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 during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Proofpoint by 6.9% in the 2nd 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 during the period.

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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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