BidaskClub upgraded shares of Proofpoint (NASDAQ:PFPT) from a hold rating to a buy rating in a research note published on Friday, December 22nd.
A number of other research analysts have also issued reports on the company. Evercore ISI restated a buy rating and set a $105.00 price objective on shares of Proofpoint in a research report on Wednesday, November 22nd. Northland Securities reiterated a buy rating and set a $100.00 price target on shares of Proofpoint in a research report on Thursday, September 7th. UBS Group began coverage on Proofpoint in a research report on Tuesday, October 31st. They set a market perform rating for the company. Piper Jaffray Companies set a $105.00 price target on Proofpoint and gave the stock a buy rating in a research report on Friday, October 20th. Finally, Robert W. Baird reiterated a hold rating and set a $95.00 price target on shares of Proofpoint in a research report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Proofpoint currently has a consensus rating of Buy and a consensus target price of $102.48.
Shares of Proofpoint (PFPT) traded down $0.56 on Friday, hitting $99.11. The stock had a trading volume of 717,868 shares, compared to its average volume of 444,261. The firm has a market cap of $4,440.00, a price-to-earnings ratio of -44.85 and a beta of 1.32. 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 one year low of $70.30 and a one year high of $99.80.
Proofpoint (NASDAQ:PFPT) last issued 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. Proofpoint had a negative return on equity of 158.19% and a negative net margin of 20.19%. The company had revenue of $134.30 million during the quarter, compared to analyst estimates of $131.48 million. During the same quarter last year, the firm earned $0.19 EPS. The business’s revenue was up 34.6% on a year-over-year basis. sell-side analysts forecast that Proofpoint will post -0.88 EPS for the current year.
In other news, CEO Gary Steele sold 40,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $90.88, for a total transaction of $3,635,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $94.82, for a total value of $775,912.06. Following the sale, the executive vice president now owns 25,001 shares of the company’s stock, valued at approximately $2,370,594.82. The disclosure for this sale can be found here. Insiders have sold 165,549 shares of company stock worth $14,886,352 in the last quarter. 5.96% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PFPT. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Proofpoint during the 2nd quarter worth about $253,000. JPMorgan Chase & Co. lifted its position in shares of Proofpoint by 133.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock worth $76,551,000 after purchasing an additional 498,462 shares during the last quarter. Federated Investors Inc. PA lifted its position in shares of Proofpoint by 63.8% during the 2nd quarter. Federated Investors Inc. PA now owns 85,435 shares of the software maker’s stock worth $7,419,000 after purchasing an additional 33,290 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Proofpoint by 20.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 2,786,122 shares of the software maker’s stock worth $241,919,000 after purchasing an additional 472,407 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its position in shares of Proofpoint by 126.4% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,328 shares of the software maker’s stock worth $726,000 after purchasing an additional 4,650 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.
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