Proofpoint, Inc. (NASDAQ:PFPT) Receives Buy Rating from Stifel Nicolaus

Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “buy” rating restated by investment analysts at Stifel Nicolaus in a research report issued to clients and investors on Tuesday, July 25th. They presently have a $90.00 price target on the software maker’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 2.44% from the company’s previous close.

A number of other brokerages have also recently weighed in on PFPT. Wedbush reissued an “outperform” rating and set a $93.00 price objective (down from $98.00) on shares of Proofpoint in a research note on Friday, July 14th. ValuEngine raised shares of Proofpoint from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Northland Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Proofpoint in a research note on Friday, June 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of Proofpoint in a research note on Sunday, April 23rd. Finally, Piper Jaffray Companies set a $90.00 target price on shares of Proofpoint and gave the stock a “buy” rating in a research note on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $92.78.

Proofpoint (NASDAQ PFPT) traded up 0.23% during midday trading on Tuesday, hitting $88.06. The stock had a trading volume of 6,844 shares. Proofpoint has a 12-month low of $68.04 and a 12-month high of $94.33. The firm’s market cap is $3.91 billion. The stock has a 50-day moving average price of $87.62 and a 200 day moving average price of $82.64.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. The company had revenue of $122.30 million during the quarter, compared to the consensus estimate of $119.58 million. During the same period last year, the firm earned $0.06 EPS. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. On average, equities analysts anticipate that Proofpoint will post $0.65 earnings per share for the current fiscal year.

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In other Proofpoint news, SVP Robert Darren Lee sold 2,750 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $87.75, for a total value of $241,312.50. Following the completion of the transaction, the senior vice president now owns 7,619 shares in the company, valued at approximately $668,567.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $89.08, for a total transaction of $728,941.64. Following the completion of the transaction, the executive vice president now owns 15,195 shares of the company’s stock, valued at approximately $1,353,570.60. The disclosure for this sale can be found here. Insiders sold a total of 153,116 shares of company stock valued at $13,149,351 in the last three months. Insiders own 6.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in Proofpoint by 41.9% in the second quarter. Sterling Capital Management LLC now owns 33,497 shares of the software maker’s stock valued at $2,909,000 after buying an additional 9,884 shares during the period. Ameritas Investment Partners Inc. boosted its position in Proofpoint by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,771 shares of the software maker’s stock valued at $327,000 after buying an additional 245 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Proofpoint during the second quarter valued at approximately $253,000. The Manufacturers Life Insurance Company boosted its position in Proofpoint by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 32,960 shares of the software maker’s stock valued at $2,862,000 after buying an additional 1,554 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in Proofpoint by 17.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,724 shares of the software maker’s stock valued at $235,000 after buying an additional 409 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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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