Proofpoint’s (PFPT) Neutral Rating Reiterated at KeyCorp
Several other equities research analysts have also weighed in on PFPT. Royal Bank Of Canada reissued a buy rating and set a $103.00 target price on shares of Proofpoint in a research report on Thursday, August 31st. Evercore ISI reissued a buy rating and set a $105.00 target price on shares of Proofpoint in a research report on Wednesday, November 22nd. Imperial Capital reissued an outperform rating and set a $102.00 target price (up previously from $100.00) on shares of Proofpoint in a research report on Wednesday, August 2nd. Cowen Inc began coverage on Proofpoint in a research report on Thursday, August 17th. They set an outperform rating and a $105.00 target price on the stock. Finally, BidaskClub raised Proofpoint from a hold rating to a buy rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $102.00.
Shares of Proofpoint (NASDAQ:PFPT) opened at $92.60 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 11.57. Proofpoint has a 12-month low of $69.19 and a 12-month high of $97.92.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. The company had revenue of $134.30 million for the quarter, compared to analyst estimates of $131.48 million. Proofpoint had a negative return on equity of 158.19% and a negative net margin of 20.19%. Proofpoint’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. analysts anticipate that Proofpoint will post -0.88 EPS for the current year.
In other Proofpoint news, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $90.88, for a total value of $3,635,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tracey Newell sold 8,183 shares of Proofpoint stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $89.96, for a total value of $736,142.68. Following the completion of the transaction, the executive vice president now owns 24,429 shares in the company, valued at $2,197,632.84. The disclosure for this sale can be found here. Insiders have sold a total of 168,549 shares of company stock worth $15,277,790 in the last 90 days. 5.96% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. grew its stake in shares of Proofpoint by 57.9% in the 2nd quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after purchasing an additional 431 shares during the last quarter. Fortaleza Asset Management Inc. boosted its stake in shares of Proofpoint by 22.4% in the second quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock valued at $147,000 after buying an additional 310 shares in the last quarter. Creative Planning boosted 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. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Proofpoint in the second quarter valued at approximately $215,000. Finally, Bluestein R H & Co. purchased a new stake in shares of Proofpoint in the second quarter valued at approximately $217,000.
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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.
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