Proofpoint, Inc. (PFPT) Price Target Raised to $100.00 at Dougherty & Co
Proofpoint, Inc. (NASDAQ:PFPT) had its price target hoisted by Dougherty & Co from $95.00 to $100.00 in a research report report published on Friday, Marketbeat.com reports. They currently have a buy rating on the software maker’s stock.
A number of other brokerages also recently commented on PFPT. Morgan Stanley reiterated an overweight rating and set a $102.00 price target (up from $97.00) on shares of Proofpoint in a report on Thursday, July 20th. Needham & Company LLC assumed coverage on shares of Proofpoint in a report on Friday, July 21st. They set a buy rating and a $115.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Proofpoint in a report on Wednesday, June 7th. They set a buy rating and a $90.00 price target for the company. Susquehanna Bancshares Inc assumed coverage on shares of Proofpoint in a report on Wednesday, June 7th. They set a positive rating and a $106.00 price target for the company. Finally, ValuEngine upgraded shares of Proofpoint from a sell rating to a hold rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $92.35.
Proofpoint (NASDAQ PFPT) traded up 1.08% during trading on Friday, reaching $86.16. 195,955 shares of the company’s stock traded hands. Proofpoint has a 1-year low of $68.04 and a 1-year high of $94.33. The firm has a 50 day moving average of $87.74 and a 200 day moving average of $82.15. The firm’s market capitalization is $3.82 billion.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $122.30 million during the quarter, compared to the consensus estimate of $119.58 million. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 132.13%. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. Equities analysts forecast that Proofpoint will post $0.59 EPS for the current year.
COPYRIGHT VIOLATION WARNING: “Proofpoint, Inc. (PFPT) Price Target Raised to $100.00 at Dougherty & Co” was first published by Watch List News and is owned by of Watch List News. If you are reading this piece on another domain, it was illegally copied and republished in violation of international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.watchlistnews.com/proofpoint-inc-pfpt-price-target-raised-to-100-00-at-dougherty-co/1465583.html.
In related news, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $80.38, for a total value of $3,215,200.00. Following the completion of the sale, the chief executive officer now owns 61,780 shares in the company, valued at $4,965,876.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tracey Newell sold 8,183 shares of Proofpoint stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $84.14, for a total transaction of $688,517.62. Following the completion of the sale, the executive vice president now owns 14,730 shares of the company’s stock, valued at approximately $1,239,382.20. The disclosure for this sale can be found here. Insiders have sold 186,299 shares of company stock worth $15,989,869 in the last quarter. Insiders own 6.80% of the company’s stock.
Several hedge funds have recently modified their holdings of PFPT. BlackRock Inc. raised its stake in shares of Proofpoint by 22,439.7% in the first quarter. BlackRock Inc. now owns 3,193,429 shares of the software maker’s stock worth $237,464,000 after buying an additional 3,179,261 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of Proofpoint by 161.6% in the first quarter. Artisan Partners Limited Partnership now owns 2,313,715 shares of the software maker’s stock worth $172,048,000 after buying an additional 1,429,192 shares during the period. Garelick Capital Partners LP bought a new stake in shares of Proofpoint during the first quarter worth about $16,259,000. Vanguard Group Inc. raised its stake in shares of Proofpoint by 6.7% in the first quarter. Vanguard Group Inc. now owns 3,314,857 shares of the software maker’s stock worth $246,493,000 after buying an additional 207,412 shares during the period. Finally, Pictet Asset Management Ltd. raised its stake in shares of Proofpoint by 42.1% in the second quarter. Pictet Asset Management Ltd. now owns 529,500 shares of the software maker’s stock worth $45,537,000 after buying an additional 157,000 shares during the period.
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.
Receive News & Ratings for Proofpoint Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.