Proofpoint, Inc. (NASDAQ:PFPT) has earned an average rating of “Buy” from the twenty-four analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twenty have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $91.00.
Several research analysts recently issued reports on the company. Stifel Nicolaus initiated coverage on Proofpoint in a research note on Wednesday, June 7th. They set a “buy” rating and a $90.00 price target on the stock. Susquehanna Bancshares Inc assumed coverage on Proofpoint in a research note on Wednesday, June 7th. They issued a “positive” rating and a $106.00 target price on the stock. ValuEngine upgraded Proofpoint from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Northland Securities restated a “buy” rating and issued a $100.00 target price on shares of Proofpoint in a research note on Friday, June 30th. Finally, FBN Securities began coverage on Proofpoint in a research report on Monday, May 22nd. They set an “outperform” rating and a $95.00 price target on the stock.
Proofpoint (NASDAQ PFPT) traded up 1.41% during trading on Friday, reaching $85.72. 736,498 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $86.61 and a 200-day moving average of $79.84. Proofpoint has a 12 month low of $63.01 and a 12 month high of $94.33. The stock’s market cap is $3.75 billion.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, April 20th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. Proofpoint had a negative return on equity of 126.46% and a negative net margin of 25.63%. The company had revenue of $113.30 million for the quarter, compared to analyst estimates of $110.60 million. During the same period in the prior year, the company posted ($0.09) EPS. The firm’s quarterly revenue was up 43.4% compared to the same quarter last year. On average, equities research analysts anticipate that Proofpoint will post $0.59 earnings per share for the current fiscal year.
In related news, EVP Tracey Newell sold 8,183 shares of Proofpoint 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 completion of the transaction, the executive vice president now directly owns 15,195 shares in the company, valued at $1,332,449.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gary Steele sold 8,700 shares of Proofpoint stock in a transaction on Thursday, April 13th. The shares were sold at an average price of $75.46, for a total value of $656,502.00. Following the completion of the transaction, the chief executive officer now owns 45,598 shares of the company’s stock, valued at $3,440,825.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,432 shares of company stock valued at $12,790,772. Company insiders own 6.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PFPT. A.R.T. Advisors LLC boosted its stake in Proofpoint by 239.7% in the fourth quarter. A.R.T. Advisors LLC now owns 23,100 shares of the software maker’s stock worth $1,632,000 after buying an additional 16,300 shares in the last quarter. Flinton Capital Management LLC acquired a new stake in Proofpoint during the fourth quarter worth $424,000. Russell Investments Group Ltd. acquired a new stake in Proofpoint during the fourth quarter worth $6,735,000. AQR Capital Management LLC boosted its stake in Proofpoint by 25.5% in the fourth quarter. AQR Capital Management LLC now owns 11,923 shares of the software maker’s stock worth $842,000 after buying an additional 2,426 shares in the last quarter. Finally, Denver Investment Advisors LLC acquired a new stake in Proofpoint during the fourth quarter worth $512,000.
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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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