Proofpoint (NASDAQ:PFPT) had its target price boosted by Morgan Stanley from $124.00 to $135.00 in a note issued to investors on Thursday. The firm currently has an “overweight” rating on the software maker’s stock. Morgan Stanley’s target price points to a potential upside of 16.63% from the company’s previous close.
PFPT has been the subject of a number of other research reports. Zacks Investment Research upgraded Proofpoint from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Wednesday, December 27th. KeyCorp restated a “neutral” rating on shares of Proofpoint in a report on Friday, November 24th. Evercore ISI restated a “buy” rating and issued a $105.00 price target on shares of Proofpoint in a report on Wednesday, November 22nd. Wedbush restated an “outperform” rating and issued a $108.00 price target on shares of Proofpoint in a report on Wednesday, January 3rd. Finally, Cowen restated a “buy” rating on shares of Proofpoint in a report on Thursday, March 1st. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $113.04.
Shares of Proofpoint stock opened at $115.75 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Proofpoint has a fifty-two week low of $70.30 and a fifty-two week high of $123.87. The stock has a market capitalization of $5,931.10, a PE ratio of -60.60 and a beta of 1.31.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.08. Proofpoint had a negative return on equity of 54.09% and a negative net margin of 16.37%. The business had revenue of $145.40 million during the quarter, compared to analysts’ expectations of $139.61 million. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s revenue for the quarter was up 36.1% on a year-over-year basis. research analysts expect that Proofpoint will post -1.01 earnings per share for the current fiscal year.
In other news, CEO Gary Steele sold 40,000 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $92.06, for a total transaction of $3,682,400.00. Following the completion of the transaction, the chief executive officer now directly owns 88,551 shares in the company, valued at approximately $8,152,005.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Eric Hahn sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $118.91, for a total value of $594,550.00. Following the sale, the chairman now directly owns 23,001 shares in the company, valued at $2,735,048.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,120 shares of company stock valued at $13,359,684. Company insiders own 5.96% of the company’s stock.
Several hedge funds have recently bought and sold shares of PFPT. Dimensional Fund Advisors LP raised its position in shares of Proofpoint by 433.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,440 shares of the software maker’s stock valued at $2,556,000 after acquiring an additional 23,917 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Proofpoint by 5.2% during the 3rd quarter. Nationwide Fund Advisors now owns 184,197 shares of the software maker’s stock valued at $16,066,000 after acquiring an additional 9,109 shares in the last quarter. Aperio Group LLC raised its position in shares of Proofpoint by 24.2% during the 3rd quarter. Aperio Group LLC now owns 4,461 shares of the software maker’s stock valued at $389,000 after acquiring an additional 870 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Proofpoint by 235.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 9,762 shares of the software maker’s stock valued at $851,000 after acquiring an additional 6,848 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Proofpoint by 24.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,828 shares of the software maker’s stock valued at $770,000 after acquiring an additional 1,719 shares in the last quarter.
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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