Northland Securities reiterated their buy rating on shares of Proofpoint (NASDAQ:PFPT) in a report published on Tuesday, AnalystRatings.com reports.
“We also note that the training product is included in the P2 bundle the company recently began offering. The level of interest/discussion here provides an opportunity to sell bundles, particularly with customers already using multiple products although the potential uplift from such customers is fuzzy. We also note other products such as CASB and archiving as strong performers.”,” Northland Securities’ analyst commented.
Other research analysts have also issued reports about the stock. Bank of America set a $144.00 price target on shares of Walt Disney and gave the company a buy rating in a research note on Friday, April 12th. Wedbush began coverage on shares of Pinterest in a research note on Monday, June 17th. They issued an outperform rating and a $33.00 price target on the stock. BidaskClub lowered shares of YY from a buy rating to a hold rating in a research note on Wednesday, April 10th. Deutsche Bank decreased their price target on shares of Xilinx from $125.00 to $120.00 and set a hold rating on the stock in a research note on Thursday, April 25th. Finally, Morgan Stanley set a $10.00 price objective on shares of Ford Motor and gave the company a hold rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $131.60.
Shares of Proofpoint stock opened at $125.22 on Tuesday. Proofpoint has a twelve month low of $75.92 and a twelve month high of $131.43. The company has a 50-day moving average of $115.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.79 and a current ratio of 0.79.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, April 25th. The software maker reported ($0.33) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.33). The firm had revenue of $202.90 million for the quarter, compared to analyst estimates of $199.32 million. Proofpoint had a negative net margin of 15.82% and a negative return on equity of 13.93%. Proofpoint’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. Sell-side analysts forecast that Proofpoint will post -0.82 EPS for the current year.
In other news, CEO Gary Steele sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $123.79, for a total transaction of $2,475,800.00. Following the completion of the sale, the chief executive officer now owns 100,574 shares in the company, valued at approximately $12,450,055.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul R. Auvil III sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $120.86, for a total transaction of $3,625,800.00. Following the sale, the chief financial officer now owns 106,208 shares of the company’s stock, valued at approximately $12,836,298.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,885 shares of company stock valued at $17,078,213. 2.93% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Scout Investments Inc. increased its holdings in shares of Proofpoint by 38.5% during the 2nd quarter. Scout Investments Inc. now owns 266,959 shares of the software maker’s stock worth $32,102,000 after buying an additional 74,276 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Proofpoint by 1.1% during the 1st quarter. Nordea Investment Management AB now owns 46,208 shares of the software maker’s stock worth $5,610,000 after buying an additional 520 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of Proofpoint by 72.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 786 shares of the software maker’s stock worth $95,000 after buying an additional 329 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Proofpoint by 627.9% during the 1st quarter. Marshall Wace LLP now owns 42,148 shares of the software maker’s stock worth $5,118,000 after buying an additional 36,358 shares during the last quarter. Finally, SQN Investors LP acquired a new stake in shares of Proofpoint during the 1st quarter worth approximately $20,939,000. Institutional investors and hedge funds own 95.14% of the company’s stock.
Proofpoint Company Profile
Proofpoint, Inc operates as a security-as-a-service 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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