Proofpoint Inc (PFPT) Given Consensus Rating of “Buy” by Analysts

Proofpoint Inc (NASDAQ:PFPT) has earned an average recommendation of “Buy” from the twenty-four analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $123.32.

PFPT has been the topic of several analyst reports. First Analysis lowered shares of Proofpoint from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $150.00 to $110.00 in a research note on Friday, October 26th. BidaskClub upgraded shares of Proofpoint from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Wedbush dropped their price target on shares of Proofpoint from $124.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Morgan Stanley dropped their price target on shares of Proofpoint from $134.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Finally, Deutsche Bank lowered shares of Proofpoint from a “buy” rating to a “hold” rating and dropped their price target for the stock from $125.00 to $95.00 in a research note on Friday, October 26th.

Shares of PFPT traded up $1.42 during mid-day trading on Wednesday, hitting $118.94. 757,737 shares of the company’s stock were exchanged, compared to its average volume of 717,888. Proofpoint has a twelve month low of $75.92 and a twelve month high of $130.27. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of -103.43 and a beta of 1.76.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, January 31st. The software maker reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.15. Proofpoint had a negative net margin of 14.47% and a negative return on equity of 13.40%. The company had revenue of $198.48 million for the quarter, compared to analyst estimates of $192.92 million. Research analysts anticipate that Proofpoint will post -1.18 EPS for the current year.

In other Proofpoint news, SVP Robert Darren Lee sold 8,031 shares of the firm’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $114.43, for a total value of $918,987.33. Following the sale, the senior vice president now directly owns 6,698 shares in the company, valued at approximately $766,452.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Scott Herren sold 3,200 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $117.00, for a total transaction of $374,400.00. Following the completion of the sale, the director now owns 13,228 shares in the company, valued at $1,547,676. The disclosure for this sale can be found here. Insiders sold a total of 112,731 shares of company stock worth $10,961,032 over the last quarter. 3.37% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PFPT. Dimensional Fund Advisors LP grew its position in Proofpoint by 19.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 81,445 shares of the software maker’s stock worth $9,392,000 after purchasing an additional 13,077 shares during the last quarter. Advisors Asset Management Inc. grew its position in Proofpoint by 3.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 65,378 shares of the software maker’s stock worth $7,539,000 after purchasing an additional 2,437 shares during the last quarter. FMR LLC grew its position in Proofpoint by 2.5% in the 2nd quarter. FMR LLC now owns 1,240,931 shares of the software maker’s stock worth $143,092,000 after purchasing an additional 30,271 shares during the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in Proofpoint in the 3rd quarter worth $5,500,000. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new stake in Proofpoint in the 3rd quarter worth $15,117,000. Institutional investors own 97.86% of the company’s stock.

Proofpoint Company Profile

Proofpoint, Inc operates as a security-as-a-service (SaaS) 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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Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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