Proofpoint (NASDAQ:PFPT) had its price objective hoisted by Citigroup from $118.00 to $140.00 in a research note issued on Monday. The firm currently has a “buy” rating on the software maker’s stock. Citigroup’s price target would indicate a potential upside of 11.45% from the stock’s current price.
PFPT has been the subject of a number of other reports. Zacks Investment Research lowered shares of Proofpoint from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Proofpoint in a research note on Monday, April 9th. Cowen reissued a “buy” rating on shares of Proofpoint in a research note on Thursday, March 1st. Dougherty & Co reaffirmed a “buy” rating and issued a $125.00 price objective (up from $118.00) on shares of Proofpoint in a research note on Tuesday, March 6th. Finally, Piper Jaffray reaffirmed an “overweight” rating and issued a $134.00 price objective on shares of Proofpoint in a research note on Friday, March 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $114.72.
Shares of PFPT opened at $125.62 on Monday. The firm has a market cap of $6,134.30, a PE ratio of -95.89 and a beta of 1.18. Proofpoint has a 12-month low of $70.30 and a 12-month high of $126.29. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.85.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.08. The firm had revenue of $145.40 million during the quarter, compared to analyst estimates of $139.61 million. Proofpoint had a negative net margin of 16.37% and a negative return on equity of 54.09%. The business’s revenue was up 36.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 earnings per share. analysts predict that Proofpoint will post -1.01 EPS for the current year.
In other Proofpoint news, CEO Gary Steele sold 40,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $102.40, for a total transaction of $4,096,000.00. Following the completion of the sale, the chief executive officer now directly owns 94,203 shares of the company’s stock, valued at $9,646,387.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tracey Newell sold 8,187 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $106.35, for a total transaction of $870,687.45. Following the sale, the executive vice president now directly owns 24,723 shares of the company’s stock, valued at $2,629,291.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,014 shares of company stock valued at $9,347,217. Insiders own 5.96% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PFPT. Exane Derivatives lifted its position in shares of Proofpoint by 901.8% during the fourth quarter. Exane Derivatives now owns 1,713 shares of the software maker’s stock valued at $152,000 after buying an additional 1,542 shares during the last quarter. Sigma Planning Corp purchased a new stake in shares of Proofpoint during the fourth quarter valued at about $238,000. GSA Capital Partners LLP purchased a new stake in shares of Proofpoint during the third quarter valued at about $317,000. Balter Liquid Alternatives LLC purchased a new stake in shares of Proofpoint during the fourth quarter valued at about $407,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Proofpoint during the fourth quarter valued at about $429,000.
Proofpoint Company Profile
Proofpoint, Inc operates as a security-as-a-service (SaaS) provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent ?drive-by' downloads, malicious Web links, hybrid threats, malware free attacks, and other penetration tactics.
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