Proofpoint (NASDAQ: PFPT) recently received a number of ratings updates from brokerages and research firms:

  • 5/16/2019 – Proofpoint was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $134.00 price target on the stock. According to Zacks, “Proofpoint's first-quarter results benefited from a firm international footing and solid uptick in emerging suite of products. Robust demand for Email Fraud Defense and Threat Response is a tailwind. Its new offerings have expanded the total addressable market by more than $6 billion and are proving to be a key growth catalyst. Renewal rate is consistently high. Management is confident about retaining revenue growth of 20% or more while maintaining free cash flow margins in the mid-20s in 2019. Moreover, the company raised its view for 2019 revenues, which is encouraging. Sturdy adoption of cloud is boosting demand for its solutions. However, Proofpoint expects headwinds this year due to zero contribution from the Cloudmark’s OEM business. Moreover, continuous investment in sales and marketing is expected to weigh on the company’s bottom line in the near term. Shares have underperformed the industry year to date.”
  • 5/9/2019 – Proofpoint was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $135.00 price target on the stock. According to Zacks, “Proofpoint's first-quarter results benefited from a firm international footing and solid uptick in emerging suite of products. Robust demand for Email Fraud Defense and Threat Response is a tailwind. Its new offerings have expanded the total addressable market by more than $6 billion and are proving to be a key growth catalyst. Renewal rate is consistently high. Management is confident about retaining revenue growth of 20% or more while maintaining free cash flow margins in the mid-20s in 2019. Moreover, the company raised its view for 2019 revenues, which is encouraging. Sturdy adoption of cloud is boosting demand for its solutions. However, Proofpoint expects headwinds this year due to zero contribution from the Cloudmark’s OEM business. Moreover, continuous investment in sales and marketing is expected to weigh on the company’s bottom line in the near term. Shares have underperformed the industry year to date.”
  • 5/8/2019 – Proofpoint was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Proofpoint's first-quarter results benefited from a firm international footing and solid uptick in emerging suite of products. Robust demand for Email Fraud Defense and Threat Response is a tailwind. Its new offerings have expanded the total addressable market by more than $6 billion and are proving to be a key growth catalyst. Renewal rate is consistently high. Moreover, the company raised its view for 2019 revenues. Sturdy adoption of cloud is boosting demand for its solutions. However, Proofpoint expects headwinds this year due to zero contribution from the Cloudmark’s OEM business. Moreover, continuous investment in sales and marketing is expected to weigh on the company’s bottom line in the near term. Competition from bellwethers continues to be an overhang. Shares have underperformed the industry year to date.”
  • 4/30/2019 – Proofpoint was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $143.00 price target on the stock. According to Zacks, “Proofpoint's first-quarter results benefited from a firm international footing and solid uptick in emerging suite of products. Robust demand for Email Fraud Defense and Threat Response is a tailwind. Its new offerings have expanded the total addressable market by more than $6 billion and are proving to be a key growth catalyst. Renewal rate is consistently high. Management is confident about retaining revenue growth of 20% or more while maintaining free cash flow margins in the mid-20s in 2019. Moreover, the company raised its view for 2019 revenues, which is encouraging. Sturdy adoption of cloud is boosting demand for its solutions. However, Proofpoint expects headwinds this year due to zero contribution from the Cloudmark’s OEM business. Moreover, continuous investment in sales and marketing is expected to weigh on the company’s bottom line in the near term. Shares have underperformed the industry year to date.”
  • 4/26/2019 – Proofpoint had its price target raised by analysts at Piper Jaffray Companies from $136.00 to $140.00. They now have a “sell” rating on the stock.
  • 4/26/2019 – Proofpoint had its price target raised by analysts at KeyCorp from $136.00 to $154.00. They now have an “overweight” rating on the stock.
  • 4/26/2019 – Proofpoint had its price target raised by analysts at Wells Fargo & Co from $120.00 to $150.00. They now have an “outperform” rating on the stock.
  • 4/26/2019 – Proofpoint had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $138.00 price target on the stock, up previously from $130.00.
  • 4/26/2019 – Proofpoint was given a new $142.00 price target on by analysts at Morgan Stanley. They now have a “buy” rating on the stock.
  • 4/26/2019 – Proofpoint had its “buy” rating reaffirmed by analysts at Dougherty & Co. They now have a $140.00 price target on the stock, up previously from $115.00.
  • 4/26/2019 – Proofpoint had its “buy” rating reaffirmed by analysts at Robert W. Baird.
  • 4/25/2019 – Proofpoint had its price target raised by analysts at Deutsche Bank AG from $95.00 to $125.00. They now have a “hold” rating on the stock.
  • 4/17/2019 – Proofpoint had its “buy” rating reaffirmed by analysts at Monness Crespi & Hardt. They now have a $137.00 price target on the stock, up previously from $120.00.
  • 4/12/2019 – Proofpoint had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $130.00 price target on the stock.
  • 4/12/2019 – Proofpoint is now covered by analysts at Bank of America Corp. They set a “buy” rating and a $155.00 price target on the stock.
  • 4/10/2019 – Proofpoint was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 4/8/2019 – Proofpoint had its price target raised by analysts at Piper Jaffray Companies from $120.00 to $136.00. They now have an “overweight” rating on the stock.
  • 3/26/2019 – Proofpoint is now covered by analysts at Mizuho. They set a “neutral” rating and a $120.00 price target on the stock.

Shares of NASDAQ:PFPT opened at $121.54 on Friday. Proofpoint Inc has a 52-week low of $75.92 and a 52-week high of $131.43. The stock has a market capitalization of $6.46 billion, a P/E ratio of -105.69 and a beta of 1.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, April 25th. The software maker reported ($0.33) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.33). Proofpoint had a negative net margin of 15.82% and a negative return on equity of 13.93%. The business had revenue of $202.90 million during the quarter, compared to the consensus estimate of $199.32 million. During the same period last year, the business posted $0.30 EPS. Proofpoint’s revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts expect that Proofpoint Inc will post -0.82 EPS for the current year.

In other Proofpoint news, CEO Gary Steele sold 20,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $122.16, for a total value of $2,443,200.00. Following the transaction, the chief executive officer now directly owns 162,209 shares of the company’s stock, valued at approximately $19,815,451.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dana L. Evan sold 3,051 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $113.85, for a total transaction of $347,356.35. Following the completion of the transaction, the director now directly owns 8,783 shares in the company, valued at $999,944.55. The disclosure for this sale can be found here. Insiders sold a total of 119,227 shares of company stock valued at $14,448,248 over the last quarter. 2.93% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in PFPT. Renaissance Technologies LLC raised its holdings in Proofpoint by 1,609.4% in the 1st quarter. Renaissance Technologies LLC now owns 529,900 shares of the software maker’s stock valued at $64,346,000 after acquiring an additional 498,900 shares during the period. Voya Investment Management LLC raised its holdings in Proofpoint by 85.0% in the 1st quarter. Voya Investment Management LLC now owns 1,059,219 shares of the software maker’s stock valued at $128,621,000 after acquiring an additional 486,517 shares during the period. Norges Bank bought a new position in Proofpoint in the 4th quarter valued at about $39,840,000. Teachers Advisors LLC raised its holdings in Proofpoint by 111.0% in the 3rd quarter. Teachers Advisors LLC now owns 849,483 shares of the software maker’s stock valued at $90,326,000 after acquiring an additional 446,817 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in shares of Proofpoint by 143.0% during the third quarter. Neuberger Berman Group LLC now owns 734,917 shares of the software maker’s stock worth $78,144,000 after purchasing an additional 432,467 shares during the period. 94.79% of the stock is currently owned by hedge funds and other institutional investors.

Proofpoint, Inc operates as a security-as-a-service 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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