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.

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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.

About Proofpoint

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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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