Stifel Nicolaus Increases Proofpoint (PFPT) Price Target to $115.00

Proofpoint (NASDAQ:PFPT) had its target price boosted by Stifel Nicolaus from $100.00 to $115.00 in a report issued on Wednesday, MarketBeat reports. They currently have a buy rating on the software maker’s stock.

A number of other equities analysts have also weighed in on PFPT. Wedbush reissued an outperform rating and issued a $114.00 target price (up previously from $108.00) on shares of Proofpoint in a research report on Wednesday. Monness Crespi & Hardt boosted their target price on Proofpoint from $110.00 to $115.00 and gave the stock a buy rating in a research report on Wednesday. Deutsche Bank reissued a buy rating and issued a $114.00 target price on shares of Proofpoint in a research report on Tuesday, January 30th. Robert W. Baird boosted their target price on Proofpoint from $100.00 to $110.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, Morgan Stanley boosted their target price on Proofpoint from $116.00 to $124.00 and gave the stock an overweight rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $107.63.

Proofpoint (NASDAQ PFPT) opened at $97.05 on Wednesday. The company has a debt-to-equity ratio of 11.57, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $4,550.00, a PE ratio of -50.55 and a beta of 1.39. Proofpoint has a 52-week low of $70.30 and a 52-week high of $104.62.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the 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 return on equity of 131.99% and a negative net margin of 16.37%. Proofpoint’s quarterly revenue was up 36.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. research analysts expect that Proofpoint will post -0.68 earnings per share for the current year.

In other news, EVP David Knight sold 3,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $88.99, for a total transaction of $266,970.00. Following the completion of the sale, the executive vice president now owns 16,874 shares of the company’s stock, valued at approximately $1,501,617.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $89.96, for a total transaction of $736,142.68. Following the sale, the executive vice president now directly owns 24,429 shares of the company’s stock, valued at approximately $2,197,632.84. The disclosure for this sale can be found here. Insiders have sold a total of 165,549 shares of company stock valued at $14,900,426 in the last ninety days. Insiders own 5.96% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Proofpoint by 133.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock valued at $76,551,000 after acquiring an additional 498,462 shares during the period. Wasatch Advisors Inc. grew its stake in shares of Proofpoint by 52.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 728,526 shares of the software maker’s stock valued at $63,258,000 after acquiring an additional 249,919 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Proofpoint by 8.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,012,092 shares of the software maker’s stock valued at $262,715,000 after acquiring an additional 225,970 shares during the period. Renaissance Technologies LLC grew its stake in shares of Proofpoint by 340.9% during the 2nd quarter. Renaissance Technologies LLC now owns 175,900 shares of the software maker’s stock valued at $15,273,000 after acquiring an additional 136,000 shares during the period. Finally, Elk Creek Partners LLC bought a new position in shares of Proofpoint during the 3rd quarter valued at approximately $10,787,000.

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About Proofpoint

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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