Shares of Proofpoint Inc (NASDAQ:PFPT) have received an average rating of “Buy” from the twenty-three analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $123.53.

PFPT has been the subject of a number of research reports. BidaskClub upgraded Proofpoint from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Wedbush decreased their target price on Proofpoint from $124.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, January 8th. They noted that the move was a valuation call. Monness Crespi & Hardt boosted their target price on Proofpoint from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 1st. KeyCorp boosted their target price on Proofpoint from $120.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday, February 25th. Finally, Morgan Stanley set a $120.00 target price on Proofpoint and gave the stock a “buy” rating in a report on Saturday, February 2nd.

PFPT opened at $118.50 on Thursday. Proofpoint has a 12 month low of $75.92 and a 12 month high of $130.27. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of -103.04 and a beta of 1.83.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, January 31st. The software maker reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.15. Proofpoint had a negative return on equity of 12.20% and a negative net margin of 14.47%. The business had revenue of $198.48 million during the quarter, compared to analysts’ expectations of $192.92 million. As a group, equities research analysts forecast that Proofpoint will post -1.18 earnings per share for the current fiscal year.

In other Proofpoint news, EVP David Knight sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $101.43, for a total value of $152,145.00. Following the transaction, the executive vice president now directly owns 11,814 shares of the company’s stock, valued at approximately $1,198,294.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Robert Darren Lee sold 8,031 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $114.43, for a total value of $918,987.33. Following the completion of the transaction, the senior vice president now directly owns 6,698 shares in the company, valued at $766,452.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,282 shares of company stock worth $8,174,319. 3.37% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. MML Investors Services LLC raised its position in shares of Proofpoint by 0.9% during the 4th quarter. MML Investors Services LLC now owns 9,399 shares of the software maker’s stock valued at $788,000 after acquiring an additional 88 shares in the last quarter. Brandywine Managers LLC grew its stake in Proofpoint by 8.3% during the 4th quarter. Brandywine Managers LLC now owns 2,600 shares of the software maker’s stock worth $218,000 after buying an additional 200 shares during the last quarter. Alps Advisors Inc. grew its stake in Proofpoint by 4.7% during the 4th quarter. Alps Advisors Inc. now owns 4,744 shares of the software maker’s stock worth $398,000 after buying an additional 212 shares during the last quarter. Prudential Financial Inc. grew its stake in Proofpoint by 10.2% during the 4th quarter. Prudential Financial Inc. now owns 2,920 shares of the software maker’s stock worth $245,000 after buying an additional 270 shares during the last quarter. Finally, Brown Advisory Securities LLC grew its stake in Proofpoint by 8.3% during the 4th quarter. Brown Advisory Securities LLC now owns 6,040 shares of the software maker’s stock worth $500,000 after buying an additional 463 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

Proofpoint Company Profile

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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Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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