Robert W. Baird reiterated their hold rating on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research note released on Friday morning.

A number of other brokerages have also issued reports on PFPT. Wedbush reaffirmed an outperform rating and set a $93.00 price target (down from $98.00) on shares of Proofpoint in a research note on Friday, July 14th. ValuEngine raised Proofpoint from a sell rating to a hold rating in a research note on Friday, June 2nd. Northland Securities reaffirmed a buy rating and set a $100.00 price target on shares of Proofpoint in a research note on Friday, June 30th. Rosenblatt Securities reaffirmed a buy rating and set a $95.00 price target on shares of Proofpoint in a research note on Sunday, April 23rd. Finally, Piper Jaffray Companies set a $90.00 price target on Proofpoint and gave the company a buy rating in a research note on Friday, April 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $92.35.

Proofpoint (NASDAQ:PFPT) opened at 85.24 on Friday. The company’s 50-day moving average price is $87.74 and its 200 day moving average price is $82.15. The firm’s market capitalization is $3.78 billion. Proofpoint has a one year low of $68.04 and a one year high of $94.33.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The firm had revenue of $122.30 million during the quarter, compared to analyst estimates of $119.58 million. Proofpoint had a negative return on equity of 132.13% and a negative net margin of 20.96%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. On average, analysts forecast that Proofpoint will post $0.59 earnings per share for the current year.

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In other news, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $80.38, for a total value of $3,215,200.00. Following the sale, the chief executive officer now directly owns 61,780 shares of the company’s stock, valued at $4,965,876.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Knight sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $92.45, for a total value of $277,350.00. Following the completion of the sale, the executive vice president now directly owns 16,874 shares in the company, valued at $1,560,001.30. The disclosure for this sale can be found here. Insiders have sold 186,299 shares of company stock worth $15,989,869 over the last three months. Company insiders own 6.80% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Creative Planning increased its stake in shares of Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after buying an additional 154 shares in the last quarter. Wedbush Securities Inc. increased its stake in shares of Proofpoint by 4.8% in the first quarter. Wedbush Securities Inc. now owns 5,864 shares of the software maker’s stock valued at $436,000 after buying an additional 267 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Proofpoint by 3.1% in the first quarter. Legal & General Group Plc now owns 14,253 shares of the software maker’s stock valued at $1,060,000 after buying an additional 435 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Proofpoint by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock valued at $215,000 after buying an additional 446 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of Proofpoint by 13.0% in the first quarter. Commerce Bank now owns 4,000 shares of the software maker’s stock valued at $298,000 after buying an additional 460 shares in the last quarter.

Proofpoint Company Profile

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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