Monness Crespi & Hardt assumed coverage on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research note published on Monday, Marketbeat reports. The firm issued a buy rating and a $110.00 price target on the software maker’s stock.
PFPT has been the subject of several other reports. Needham & Company LLC reiterated a buy rating and issued a $115.00 price target on shares of Proofpoint in a report on Monday, September 11th. BidaskClub upgraded Proofpoint from a hold rating to a buy rating in a report on Friday, August 25th. Imperial Capital reiterated an outperform rating and issued a $102.00 price target (up from $100.00) on shares of Proofpoint in a report on Wednesday, August 2nd. Macquarie reiterated an outperform rating and issued a $103.00 price target on shares of Proofpoint in a report on Tuesday, September 26th. Finally, Dougherty & Co boosted their price target on Proofpoint from $95.00 to $100.00 and gave the company a buy rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $100.08.
Proofpoint (NASDAQ:PFPT) opened at 95.10 on Monday. The stock’s market capitalization is $4.22 billion. Proofpoint has a 12 month low of $69.19 and a 12 month high of $97.00. The company has a 50-day moving average price of $91.31 and a 200 day moving average price of $86.32.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Wednesday, October 18th. The software maker reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The company had revenue of $134.30 million during the quarter, compared to the consensus estimate of $131.48 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. Proofpoint’s revenue was up 34.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. Equities analysts predict that Proofpoint will post $0.65 earnings per share for the current year.
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In other news, CEO Gary Steele sold 40,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 88,551 shares in the company, valued at approximately $7,928,856.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $2,282,255.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,549 shares of company stock worth $15,226,339. Company insiders own 6.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Proofpoint by 9.7% in the 2nd quarter. BlackRock Inc. now owns 3,503,427 shares of the software maker’s stock valued at $304,204,000 after purchasing an additional 309,998 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Proofpoint by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,392,578 shares of the software maker’s stock valued at $294,577,000 after purchasing an additional 77,721 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Proofpoint by 20.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,786,122 shares of the software maker’s stock valued at $241,919,000 after purchasing an additional 472,407 shares in the last quarter. FMR LLC raised its stake in shares of Proofpoint by 10.9% in the 2nd quarter. FMR LLC now owns 961,745 shares of the software maker’s stock valued at $83,508,000 after purchasing an additional 94,545 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in Proofpoint by 13.0% during the second quarter. Macquarie Group Ltd. now owns 942,966 shares of the software maker’s stock worth $81,878,000 after acquiring an additional 108,772 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.
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