BidaskClub upgraded shares of Proofpoint (NASDAQ:PFPT) from a hold rating to a buy rating in a research note released on Thursday.

Other research analysts have also recently issued research reports about the company. Evercore ISI reiterated a buy rating and issued a $135.00 target price on shares of Proofpoint in a report on Friday, April 27th. Needham & Company LLC lifted their target price on Proofpoint to $138.00 and gave the stock a buy rating in a research report on Tuesday, April 24th. They noted that the move was a valuation call. Monness Crespi & Hardt lifted their target price on Proofpoint from $120.00 to $135.00 and gave the stock a buy rating in a research report on Tuesday, April 24th. Cowen reaffirmed a buy rating and set a $125.00 target price on shares of Proofpoint in a research report on Friday, April 20th. Finally, Citigroup lifted their target price on Proofpoint from $118.00 to $140.00 and gave the stock a buy rating in a research report on Monday, April 16th. Five investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Proofpoint has an average rating of Buy and an average target price of $128.68.

Proofpoint stock traded down $0.85 during mid-day trading on Thursday, hitting $117.16. 532,869 shares of the company were exchanged, compared to its average volume of 932,663. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of -89.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.65 and a current ratio of 0.65. Proofpoint has a 12-month low of $82.61 and a 12-month high of $130.27.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, July 26th. The software maker reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.09. Proofpoint had a negative return on equity of 16.48% and a negative net margin of 12.93%. The firm had revenue of $171.90 million for the quarter, compared to analysts’ expectations of $169.46 million. During the same quarter last year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up 40.6% compared to the same quarter last year. analysts forecast that Proofpoint will post -1.18 EPS for the current fiscal year.

In other news, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $122.32, for a total transaction of $611,600.00. Following the completion of the transaction, the chairman now directly owns 13,001 shares in the company, valued at $1,590,282.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Knight sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 11th. The stock was sold at an average price of $126.02, for a total value of $945,150.00. Following the transaction, the executive vice president now owns 24,814 shares of the company’s stock, valued at $3,127,060.28. The disclosure for this sale can be found here. Insiders have sold 207,711 shares of company stock valued at $24,788,952 over the last ninety days. Corporate insiders own 5.96% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PFPT. Stratos Wealth Partners LTD. lifted its position in Proofpoint by 4,395.0% in the first quarter. Stratos Wealth Partners LTD. now owns 899 shares of the software maker’s stock worth $102,000 after purchasing an additional 879 shares during the period. Federated Investors Inc. PA lifted its position in Proofpoint by 181.1% in the second quarter. Federated Investors Inc. PA now owns 1,386 shares of the software maker’s stock worth $160,000 after purchasing an additional 893 shares during the period. Cerebellum GP LLC acquired a new stake in Proofpoint in the second quarter worth approximately $163,000. World Asset Management Inc acquired a new stake in Proofpoint in the second quarter worth approximately $205,000. Finally, CIBC Asset Management Inc acquired a new stake in Proofpoint in the second quarter worth approximately $211,000.

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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