Proofpoint (PFPT) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Proofpoint (NASDAQ:PFPT) in a research note published on Tuesday morning. Wedbush currently has a $106.00 target price on the software maker’s stock, down from their prior target price of $108.00.

Several other brokerages also recently issued reports on PFPT. Evercore ISI set a $105.00 price objective on shares of Proofpoint and gave the stock a buy rating in a research report on Friday, October 20th. Piper Jaffray Companies set a $105.00 target price on shares of Proofpoint and gave the stock a buy rating in a report on Friday, October 20th. Imperial Capital raised their target price on shares of Proofpoint from $102.00 to $110.00 and gave the stock an outperform rating in a report on Friday, October 20th. Robert W. Baird reaffirmed a hold rating and set a $100.00 target price (up from $95.00) on shares of Proofpoint in a report on Friday, October 20th. Finally, Stifel Nicolaus set a $100.00 target price on shares of Proofpoint and gave the stock a buy rating in a report on Monday, October 16th. One investment 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 has an average rating of Buy and a consensus price target of $102.09.

Shares of Proofpoint (NASDAQ PFPT) traded down $3.14 during mid-day trading on Tuesday, reaching $84.07. 891,700 shares of the company’s stock traded hands, compared to its average volume of 634,544. The company has a debt-to-equity ratio of 11.57, a current ratio of 1.51 and a quick ratio of 1.51. Proofpoint has a 1 year low of $69.23 and a 1 year high of $97.92.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, October 19th. The software maker reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The firm had revenue of $134.30 million during the quarter, compared to the consensus estimate of $131.48 million. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 158.19%. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. sell-side analysts anticipate that Proofpoint will post -0.88 EPS for the current fiscal year.

In related news, CEO Gary Steele sold 40,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $88.60, for a total value of $3,544,000.00. Following the transaction, the chief executive officer now owns 88,551 shares in the company, valued at $7,845,618.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Tracey Newell sold 8,183 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $89.96, for a total transaction of $736,142.68. Following the completion of the transaction, the executive vice president now owns 24,429 shares in the company, valued at approximately $2,197,632.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,549 shares of company stock worth $15,277,790. Insiders own 5.96% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its holdings in Proofpoint by 13.5% in the third quarter. Public Employees Retirement System of Ohio now owns 22,870 shares of the software maker’s stock valued at $1,995,000 after buying an additional 2,728 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Proofpoint during the third quarter valued at about $317,000. Sterling Capital Management LLC raised its holdings in shares of Proofpoint by 21.3% during the third quarter. Sterling Capital Management LLC now owns 40,636 shares of the software maker’s stock valued at $3,544,000 after purchasing an additional 7,139 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of Proofpoint by 1.0% during the third quarter. Neuberger Berman Group LLC now owns 297,459 shares of the software maker’s stock valued at $25,944,000 after purchasing an additional 3,051 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Proofpoint by 2.5% during the third quarter. California Public Employees Retirement System now owns 89,319 shares of the software maker’s stock valued at $7,790,000 after purchasing an additional 2,219 shares during the period.

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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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