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

Robert W. Baird reaffirmed their hold rating on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research note released on Tuesday. They currently have a $100.00 price target on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Proofpoint from a hold rating to a buy rating and set a $95.00 price target on the stock in a research report on Tuesday, August 1st. Needham & Company LLC assumed coverage on shares of Proofpoint in a research report on Friday, July 21st. They set a buy rating and a $115.00 price objective on the stock. Deutsche Bank AG boosted their price objective on shares of Proofpoint from $95.00 to $100.00 and gave the company a buy rating in a research report on Friday, September 8th. BTIG Research reiterated a buy rating and set a $110.00 price objective on shares of Proofpoint in a research report on Monday, September 11th. Finally, Stifel Nicolaus set a $100.00 price objective on shares of Proofpoint and gave the company a buy rating in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $101.70.

Shares of Proofpoint (NASDAQ PFPT) opened at $90.26 on Tuesday. Proofpoint has a 1 year low of $69.19 and a 1 year high of $97.92. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 11.57.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.07. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 158.19%. The company had revenue of $134.30 million for the quarter, compared to analysts’ expectations of $131.48 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. Proofpoint’s quarterly revenue was up 34.6% on a year-over-year basis. equities analysts expect that Proofpoint will post -0.88 EPS for the current year.

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In related news, EVP David Knight sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $90.76, for a total value of $272,280.00. Following the completion of the sale, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at $1,531,484.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gary Steele sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $89.54, for a total transaction of $3,581,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,551 shares of the company’s stock, valued at $7,928,856.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,549 shares of company stock valued at $15,226,339. 6.80% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PFPT. Teachers Advisors LLC lifted its position in shares of Proofpoint by 1.2% during the first quarter. Teachers Advisors LLC now owns 294,289 shares of the software maker’s stock valued at $21,883,000 after buying an additional 3,539 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Proofpoint by 48.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,702 shares of the software maker’s stock valued at $275,000 after buying an additional 1,202 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Proofpoint by 3.1% during the first quarter. Legal & General Group Plc now owns 14,253 shares of the software maker’s stock valued at $1,060,000 after buying an additional 435 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Proofpoint by 6.7% during the first quarter. Vanguard Group Inc. now owns 3,314,857 shares of the software maker’s stock valued at $246,493,000 after buying an additional 207,412 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Proofpoint by 291.2% during the first quarter. Renaissance Technologies LLC now owns 39,900 shares of the software maker’s stock valued at $2,967,000 after buying an additional 29,700 shares during the last quarter.

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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