Proofpoint (NASDAQ:PFPT) had its price objective boosted by Morgan Stanley from $124.00 to $135.00 in a research note issued to investors on Thursday, March 22nd. Morgan Stanley currently has an overweight rating on the software maker’s stock.
Several other equities research analysts have also recently commented on the company. Evercore ISI reaffirmed a buy rating and issued a $105.00 price target on shares of Proofpoint in a report on Wednesday, November 22nd. Zacks Investment Research cut Proofpoint from a buy rating to a hold rating in a report on Thursday, December 28th. Wedbush reaffirmed an outperform rating and issued a $108.00 price target on shares of Proofpoint in a report on Wednesday, January 3rd. Deutsche Bank raised their target price on Proofpoint from $120.00 to $140.00 and gave the stock a buy rating in a research note on Friday, March 16th. Finally, Monness Crespi & Hardt reissued a buy rating and set a $120.00 target price (up previously from $115.00) on shares of Proofpoint in a research note on Friday, March 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $113.67.
Shares of NASDAQ:PFPT traded down $1.58 during midday trading on Thursday, hitting $121.36. The company had a trading volume of 301,772 shares, compared to its average volume of 582,486. Proofpoint has a twelve month low of $70.30 and a twelve month high of $123.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.07. The stock has a market cap of $6,214.17, a PE ratio of -92.64 and a beta of 1.19.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.29 EPS for the quarter, beating the 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 firm had revenue of $145.40 million during the quarter, compared to analysts’ expectations of $139.61 million. During the same quarter last year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was up 36.1% on a year-over-year basis. analysts predict that Proofpoint will post -1.01 earnings per share for the current fiscal year.
In other news, EVP Bhagwat Swaroop sold 900 shares of Proofpoint stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $98.86, for a total value of $88,974.00. Following the completion of the sale, the executive vice president now directly owns 4,077 shares of the company’s stock, valued at $403,052.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $102.40, for a total value of $4,096,000.00. Following the completion of the transaction, the chief executive officer now owns 94,203 shares of the company’s stock, valued at $9,646,387.20. The disclosure for this sale can be found here. Insiders sold 99,197 shares of company stock valued at $10,137,204 over the last ninety days. Insiders own 5.96% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Exane Derivatives boosted its holdings in Proofpoint by 901.8% in the fourth quarter. Exane Derivatives now owns 1,713 shares of the software maker’s stock valued at $152,000 after purchasing an additional 1,542 shares during the period. Sigma Planning Corp purchased a new stake in Proofpoint during the 4th quarter worth about $238,000. GSA Capital Partners LLP purchased a new stake in Proofpoint during the 3rd quarter worth about $317,000. Aperio Group LLC lifted its holdings in Proofpoint by 24.2% during the 3rd quarter. Aperio Group LLC now owns 4,461 shares of the software maker’s stock worth $389,000 after buying an additional 870 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in Proofpoint during the 3rd quarter worth about $395,000.
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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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