UBS Group AG (USA) began coverage on shares of Proofpoint Inc (NASDAQ:PFPT) in a report issued on Tuesday morning, The Fly reports. The brokerage issued a market perform rating on the software maker’s stock.
Several other research firms also recently commented on PFPT. FBN Securities reissued an outperform rating and issued a $105.00 price objective (up previously from $100.00) on shares of Proofpoint in a report on Saturday, September 9th. Cowen and Company initiated coverage on Proofpoint in a report on Thursday, August 17th. They issued an outperform rating and a $105.00 price objective for the company. Wedbush reissued an outperform rating and issued a $93.00 price objective (down previously from $98.00) on shares of Proofpoint in a report on Friday, July 14th. Robert W. Baird reissued a hold rating and issued a $95.00 price objective on shares of Proofpoint in a report on Friday, October 13th. Finally, Deutsche Bank AG reissued a buy rating and issued a $114.00 price objective (up previously from $100.00) on shares of Proofpoint in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $101.70.
Shares of Proofpoint (PFPT) traded up $0.60 on Tuesday, reaching $91.80. The company’s stock had a trading volume of 333,593 shares, compared to its average volume of 646,681. The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 11.57.
Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, beating the consensus estimate of $0.18 by $0.07. The company had revenue of $134.30 million during the quarter, compared to the consensus estimate of $131.48 million. Proofpoint had a negative return on equity of 264.03% and a negative net margin of 16.35%. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 EPS. equities research analysts anticipate that Proofpoint will post -0.88 EPS for the current year.
In related news, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $89.54, for a total value of $3,581,600.00. Following the transaction, the chief executive officer now owns 88,551 shares in the company, valued at $7,928,856.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $94.82, for a total value of $775,912.06. Following the completion of the transaction, the executive vice president now owns 25,001 shares in the company, valued at approximately $2,370,594.82. The disclosure for this sale can be found here. Insiders have sold 168,549 shares of company stock valued at $15,226,339 in the last three months. Insiders own 6.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PFPT. Karp Capital Management Corp bought a new position in shares of Proofpoint in the first quarter worth $223,000. Teachers Advisors LLC increased its position in shares of Proofpoint by 1.2% in the first quarter. Teachers Advisors LLC now owns 294,289 shares of the software maker’s stock worth $21,883,000 after purchasing an additional 3,539 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Proofpoint by 48.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,702 shares of the software maker’s stock worth $275,000 after purchasing an additional 1,202 shares during the period. Legal & General Group Plc increased its position in shares of Proofpoint by 3.1% in the first quarter. Legal & General Group Plc now owns 14,253 shares of the software maker’s stock worth $1,060,000 after purchasing an additional 435 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Proofpoint by 6.7% in the first quarter. Vanguard Group Inc. now owns 3,314,857 shares of the software maker’s stock worth $246,493,000 after purchasing an additional 207,412 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.
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