Piper Jaffray Companies Analysts Give Proofpoint, Inc. (PFPT) a $100.00 Price Target
Piper Jaffray Companies set a $100.00 price objective on Proofpoint, Inc. (NASDAQ:PFPT) in a research note released on Thursday. The brokerage currently has a buy rating on the software maker’s stock.
Other equities analysts also recently issued research reports about the company. Wedbush reiterated an outperform rating and issued a $90.00 price objective on shares of Proofpoint in a research note on Monday, April 3rd. Needham & Company LLC assumed coverage on Proofpoint in a research note on Friday, July 21st. They issued a buy rating and a $115.00 price objective on the stock. Evercore ISI set a $105.00 target price on Proofpoint and gave the stock a buy rating in a research report on Friday. FBN Securities assumed coverage on Proofpoint in a research report on Monday, May 22nd. They set an outperform rating and a $95.00 target price on the stock. Finally, Stifel Nicolaus assumed coverage on Proofpoint in a research report on Wednesday, June 7th. They set a buy rating and a $90.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $92.35.
Shares of Proofpoint (PFPT) opened at 89.02 on Thursday. The company’s 50-day moving average price is $87.82 and its 200 day moving average price is $82.08. The firm’s market capitalization is $3.95 billion. Proofpoint has a 12-month low of $68.04 and a 12-month high of $94.33.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, beating the consensus estimate of $0.12 by $0.05. Proofpoint had a negative return on equity of 132.13% and a negative net margin of 20.96%. The business had revenue of $122.30 million for the quarter, compared to the consensus estimate of $119.58 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. Proofpoint’s revenue for the quarter was up 36.0% on a year-over-year basis. On average, equities analysts forecast that Proofpoint will post $0.59 earnings per share for the current year.
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In related news, CFO Paul R. Auvil III sold 25,000 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $90.54, for a total value of $2,263,500.00. Following the transaction, the chief financial officer now owns 104,705 shares of the company’s stock, valued at $9,479,990.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Knight sold 3,000 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $92.45, for a total value of $277,350.00. Following the completion of the transaction, the executive vice president now directly owns 16,874 shares in the company, valued at approximately $1,560,001.30. The disclosure for this sale can be found here. In the last three months, insiders sold 186,299 shares of company stock worth $15,989,869. 6.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new position in Proofpoint during the first quarter worth approximately $535,000. Sumitomo Mitsui Asset Management Company LTD boosted its position in Proofpoint by 5.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 106,716 shares of the software maker’s stock worth $7,935,000 after buying an additional 5,974 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in Proofpoint during the first quarter worth approximately $351,000. Russell Investments Group Ltd. boosted its position in Proofpoint by 1.3% in the first quarter. Russell Investments Group Ltd. now owns 96,079 shares of the software maker’s stock worth $7,144,000 after buying an additional 1,220 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position in Proofpoint by 13.5% in the first quarter. First Mercantile Trust Co. now owns 7,710 shares of the software maker’s stock worth $573,000 after buying an additional 916 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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