Proofpoint’s (PFPT) “Hold” Rating Reiterated at Robert W. Baird

Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “hold” rating reiterated by research analysts at Robert W. Baird in a report issued on Tuesday, November 7th. They currently have a $100.00 price objective on the software maker’s stock. Robert W. Baird’s price objective points to a potential upside of 7.99% from the stock’s current price.

Other research analysts have also issued reports about the company. Needham & Company LLC began coverage on Proofpoint in a report on Friday, July 21st. They set a “buy” rating and a $115.00 target price on the stock. Zacks Investment Research raised Proofpoint from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Tuesday, August 1st. Deutsche Bank AG lifted their price target on Proofpoint from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. BTIG Research reissued a “buy” rating and issued a $110.00 price target on shares of Proofpoint in a research note on Monday, September 11th. Finally, Stifel Nicolaus set a $100.00 price target on Proofpoint and gave the stock a “buy” rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $102.00.

Shares of Proofpoint (NASDAQ:PFPT) traded up $1.15 during midday trading on Tuesday, hitting $92.60. 153,064 shares of the company were exchanged, compared to its average volume of 436,526. Proofpoint has a fifty-two week low of $69.19 and a fifty-two week high of $97.92. 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 (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, October 19th. The software maker reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. The business had revenue of $134.30 million for 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 company’s revenue was up 34.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share. analysts predict that Proofpoint will post -0.88 earnings per share for the current fiscal year.

In other Proofpoint news, CEO Gary Steele sold 40,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $88.60, for a total value of $3,544,000.00. Following the sale, the chief executive officer now directly owns 88,551 shares in the company, valued at $7,845,618.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $90.30, for a total value of $738,924.90. Following the transaction, the executive vice president now directly owns 20,170 shares in the company, valued at approximately $1,821,351. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,549 shares of company stock worth $15,277,790. 5.96% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFPT. Federated Investors Inc. PA grew its holdings in shares of Proofpoint by 63.8% during the second quarter. Federated Investors Inc. PA now owns 85,435 shares of the software maker’s stock worth $7,419,000 after buying an additional 33,290 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Proofpoint by 20.4% during the second quarter. Artisan Partners Limited Partnership now owns 2,786,122 shares of the software maker’s stock worth $241,919,000 after buying an additional 472,407 shares in the last quarter. Brighton Jones LLC bought a new position in shares of Proofpoint during the second quarter worth about $285,000. ETF Managers Group LLC acquired a new position in Proofpoint during the second quarter valued at approximately $43,157,000. Finally, California Public Employees Retirement System boosted its position in Proofpoint by 4.2% during the second quarter. California Public Employees Retirement System now owns 87,100 shares of the software maker’s stock valued at $7,563,000 after purchasing an additional 3,500 shares during the last quarter.

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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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