Wedbush reaffirmed their outperform rating on shares of Proofpoint (NASDAQ:PFPT) in a research note released on Wednesday, January 3rd. They currently have a $108.00 price objective on the software maker’s stock.
Several other research firms have also weighed in on PFPT. Evercore ISI set a $105.00 target price on shares of Proofpoint and gave the company a buy rating in a research note on Friday, October 20th. Piper Jaffray Companies set a $105.00 target price on shares of Proofpoint and gave the company a buy rating in a research note on Friday, October 20th. Imperial Capital boosted their target price on shares of Proofpoint from $102.00 to $110.00 and gave the company an outperform rating in a research note on Friday, October 20th. Robert W. Baird reiterated a hold rating and set a $100.00 target price (up previously from $95.00) on shares of Proofpoint in a research note on Friday, October 20th. Finally, Stifel Nicolaus set a $100.00 target price on shares of Proofpoint and gave the company a buy rating in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Proofpoint has a consensus rating of Buy and a consensus price target of $102.48.
Shares of Proofpoint (NASDAQ PFPT) traded up $2.00 during trading hours on Wednesday, hitting $99.67. 510,600 shares of the company were exchanged, compared to its average volume of 515,263. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 11.57. The company has a market capitalization of $4,470.00, a price-to-earnings ratio of -45.10 and a beta of 1.32. Proofpoint has a fifty-two week low of $70.30 and a fifty-two week high of $99.79.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The business had revenue of $134.30 million during the quarter, compared to analyst estimates 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 was up 34.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. analysts forecast that Proofpoint will post -0.88 earnings per share for the current fiscal year.
In other Proofpoint news, CEO Gary Steele sold 40,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $90.88, for a total value of $3,635,200.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $89.48, for a total transaction of $447,400.00. The disclosure for this sale can be found here. Insiders sold 165,549 shares of company stock valued at $14,886,352 in the last ninety days. Corporate insiders own 5.96% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Daiwa SB Investments Ltd. raised its holdings in Proofpoint by 13.4% during the 4th quarter. Daiwa SB Investments Ltd. now owns 10,526 shares of the software maker’s stock worth $935,000 after buying an additional 1,242 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Proofpoint by 13.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,870 shares of the software maker’s stock worth $1,995,000 after buying an additional 2,728 shares during the period. GSA Capital Partners LLP acquired a new stake in Proofpoint during the 3rd quarter worth about $317,000. Sterling Capital Management LLC raised its holdings in Proofpoint by 21.3% during the 3rd quarter. Sterling Capital Management LLC now owns 40,636 shares of the software maker’s stock worth $3,544,000 after buying an additional 7,139 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in Proofpoint by 1.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 297,459 shares of the software maker’s stock worth $25,944,000 after buying an additional 3,051 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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