Proofpoint (PFPT) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Proofpoint (NASDAQ:PFPT) from a hold rating to a buy rating in a report released on Friday.

Other analysts have also issued research reports about the company. Deutsche Bank boosted their price target on Proofpoint from $95.00 to $100.00 and gave the company a buy rating in a report on Friday, September 8th. BTIG Research restated a buy rating and issued a $110.00 price objective on shares of Proofpoint in a research report on Monday, September 11th. Stifel Nicolaus set a $100.00 price objective on Proofpoint and gave the company a buy rating in a research report on Monday, October 16th. Robert W. Baird restated a hold rating and issued a $95.00 price objective on shares of Proofpoint in a research report on Friday, September 8th. Finally, KeyCorp restated a hold rating on shares of Proofpoint in a research report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $102.43.

Shares of Proofpoint (NASDAQ PFPT) opened at $91.44 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 11.57. Proofpoint has a fifty-two week low of $69.24 and a fifty-two week high of $97.92. The company has a market capitalization of $4,070.00, a price-to-earnings ratio of -41.38 and a beta of 1.31.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $134.30 million during the quarter, compared to analyst estimates of $131.48 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. Proofpoint’s revenue for the quarter was up 34.6% on a year-over-year basis. analysts forecast that Proofpoint will post -0.88 EPS for the current fiscal year.

In other news, EVP David Knight sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $88.99, for a total transaction of $266,970.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary Steele sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $92.35, for a total value of $3,694,000.00. The disclosure for this sale can be found here. Insiders have sold 168,549 shares of company stock worth $15,141,422 over the last three months. 5.96% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFPT. Public Employees Retirement System of Ohio grew its stake 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 worth $1,995,000 after purchasing an additional 2,728 shares in the last quarter. GSA Capital Partners LLP bought a new position in Proofpoint in the third quarter worth approximately $317,000. Sterling Capital Management LLC grew its stake in Proofpoint by 21.3% in the third quarter. Sterling Capital Management LLC now owns 40,636 shares of the software maker’s stock worth $3,544,000 after purchasing an additional 7,139 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Proofpoint by 1.0% in the third quarter. Neuberger Berman Group LLC now owns 297,459 shares of the software maker’s stock worth $25,944,000 after purchasing an additional 3,051 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Proofpoint by 2.5% in the third quarter. California Public Employees Retirement System now owns 89,319 shares of the software maker’s stock worth $7,790,000 after purchasing an additional 2,219 shares in the last quarter.

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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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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