Proofpoint (NASDAQ:PFPT) Earns “Buy” Rating from Northland Securities

Northland Securities reissued their buy rating on shares of Proofpoint (NASDAQ:PFPT) in a research report released on Tuesday, AnalystRatings.com reports.

“We also note that the training product is included in the P2 bundle the company recently began offering. The level of interest/discussion here provides an opportunity to sell bundles, particularly with customers already using multiple products although the potential uplift from such customers is fuzzy. We also note other products such as CASB and archiving as strong performers.”,” Northland Securities’ analyst commented.

Several other research analysts also recently commented on the company. KeyCorp lifted their target price on T-Mobile Us from $76.00 to $88.00 and gave the stock an overweight rating in a report on Friday, April 26th. Morgan Stanley set a $10.00 target price on Ford Motor and gave the stock a hold rating in a report on Friday, April 26th. Piper Jaffray Companies lifted their target price on Amazon.com from $2,070.00 to $2,225.00 and gave the stock an overweight rating in a report on Friday, April 26th. Cowen cut their target price on Nordstrom from $44.00 to $36.00 and set a market perform rating on the stock in a report on Thursday, May 23rd. Finally, Wedbush initiated coverage on Pinterest in a report on Monday, June 17th. They set an outperform rating and a $33.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $131.60.

NASDAQ PFPT opened at $123.89 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.79 and a current ratio of 0.79. Proofpoint has a twelve month low of $75.92 and a twelve month high of $131.43. The firm has a market cap of $6.93 billion, a P/E ratio of -107.73 and a beta of 1.67. The firm’s fifty day moving average price is $114.82.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, April 25th. The software maker reported ($0.33) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.33). The company had revenue of $202.90 million for the quarter, compared to the consensus estimate of $199.32 million. Proofpoint had a negative return on equity of 13.93% and a negative net margin of 15.82%. Proofpoint’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Equities research analysts anticipate that Proofpoint will post -0.82 EPS for the current year.

In related news, SVP Robert Darren Lee sold 2,615 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $107.83, for a total value of $281,975.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael M. Johnson sold 843 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $123.18, for a total value of $103,840.74. Following the completion of the sale, the director now directly owns 3,688 shares of the company’s stock, valued at $454,287.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,385 shares of company stock valued at $13,551,218. Corporate insiders own 2.93% of the company’s stock.

A number of institutional investors have recently modified their holdings of PFPT. Manchester Capital Management LLC bought a new stake in Proofpoint in the 1st quarter valued at about $56,000. Rehmann Capital Advisory Group increased its position in Proofpoint by 72.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 786 shares of the software maker’s stock valued at $95,000 after buying an additional 329 shares in the last quarter. World Asset Management Inc bought a new stake in Proofpoint in the 1st quarter valued at about $207,000. Comerica Bank bought a new stake in Proofpoint in the 1st quarter valued at about $218,000. Finally, CIBC Asset Management Inc bought a new stake in Proofpoint in the 1st quarter valued at about $222,000. 95.14% of the stock is owned by institutional investors and hedge funds.

About Proofpoint

Proofpoint, Inc operates as a security-as-a-service 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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