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.
TRADEMARK VIOLATION WARNING: “Proofpoint, Inc. (PFPT) Rating Reiterated by Needham & Company LLC” was originally published by BBNS and is the sole property of of BBNS. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://baseballnewssource.com/markets/proofpoint-inc-pfpt-rating-reiterated-by-needham-company-llc/1634851.html.
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.
Receive News & Ratings for Proofpoint Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint Inc. and related companies with our FREE daily email newsletter.