Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “hold” rating reiterated by analysts at Robert W. Baird in a report released on Tuesday, November 7th. They currently have a $100.00 price objective on the software maker’s stock. Robert W. Baird’s target price suggests a potential upside of 11.11% from the stock’s current price.
PFPT has been the subject of a number of other reports. Monness Crespi & Hardt assumed coverage on shares of Proofpoint in a research note on Monday, October 16th. They issued a “buy” rating and a $110.00 target price for the company. Oppenheimer Holdings, Inc. assumed coverage on shares of Proofpoint in a research note on Wednesday, November 1st. They issued a “market perform” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of Proofpoint in a research report on Monday, September 11th. Macquarie reissued an “outperform” rating and issued a $103.00 price target on shares of Proofpoint in a research report on Tuesday, September 26th. Finally, BidaskClub raised shares of Proofpoint from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $101.70.
Proofpoint (PFPT) opened at $90.00 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 11.57. Proofpoint has a 52 week low of $69.19 and a 52 week high of $97.92.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, topping the consensus estimate of $0.18 by $0.07. The company had revenue of $134.30 million during the quarter, compared to analysts’ expectations of $131.48 million. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 158.19%. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period last year, the company posted $0.19 earnings per share. sell-side analysts forecast that Proofpoint will post -0.88 EPS for the current year.
In related news, EVP David Knight sold 3,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $90.76, for a total value of $272,280.00. Following the sale, the executive vice president now owns 16,874 shares in the company, valued at approximately $1,531,484.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $89.48, for a total value of $447,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,366 shares of company stock valued at $15,215,777. Insiders own 5.96% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. D.A. Davidson & CO. increased its position in Proofpoint by 57.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock worth $102,000 after buying an additional 431 shares during the period. Fortaleza Asset Management Inc. increased its position in Proofpoint by 22.4% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock worth $147,000 after buying an additional 310 shares during the period. Creative Planning increased its position in Proofpoint by 7.4% during the 2nd quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after buying an additional 154 shares during the period. Legato Capital Management LLC bought a new position in shares of Proofpoint in the second quarter worth $204,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Proofpoint in the second quarter worth $215,000.
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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