Robert W. Baird reissued their hold rating on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research report sent to investors on Friday morning. The firm currently has a $100.00 price target on the software maker’s stock, up from their prior price target of $95.00.

Several other brokerages also recently commented on PFPT. FBN Securities reaffirmed an outperform rating and issued a $105.00 price target (up from $100.00) on shares of Proofpoint in a research report on Saturday, September 9th. Cowen and Company initiated coverage on Proofpoint in a research report on Thursday, August 17th. They issued an outperform rating and a $105.00 price target on the stock. Wedbush reaffirmed an outperform rating and issued a $93.00 price target (down from $98.00) on shares of Proofpoint in a research report on Friday, July 14th. Deutsche Bank AG reaffirmed a buy rating and issued a $114.00 price target (up from $100.00) on shares of Proofpoint in a research report on Wednesday, October 18th. Finally, Monness Crespi & Hardt assumed coverage on Proofpoint in a research report on Monday, October 16th. They issued a buy rating and a $110.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $101.25.

Proofpoint (NASDAQ PFPT) opened at 96.11 on Friday. Proofpoint has a 1-year low of $69.19 and a 1-year high of $97.92. The stock’s 50 day moving average price is $91.43 and its 200 day moving average price is $86.47. The stock’s market capitalization is $4.27 billion.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The company had revenue of $134.30 million for the quarter, compared to the consensus estimate of $131.48 million. Proofpoint had a negative return on equity of 152.53% and a negative net margin of 20.19%. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. Equities research analysts forecast that Proofpoint will post $0.65 earnings per share for the current year.

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In other Proofpoint news, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $89.54, for a total value of $3,581,600.00. Following the completion of the transaction, the chief executive officer now owns 88,551 shares in the company, valued at approximately $7,928,856.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tracey Newell sold 8,183 shares of Proofpoint stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $88.59, for a total value of $724,931.97. Following the completion of the transaction, the executive vice president now owns 25,762 shares of the company’s stock, valued at approximately $2,282,255.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,549 shares of company stock valued at $15,226,339. Corporate insiders own 6.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Glynn Capital Management LLC raised its position in Proofpoint by 52.2% in the 3rd quarter. Glynn Capital Management LLC now owns 138,665 shares of the software maker’s stock valued at $12,094,000 after purchasing an additional 47,548 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Proofpoint by 3.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 156,039 shares of the software maker’s stock valued at $13,610,000 after purchasing an additional 5,193 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Proofpoint in the 2nd quarter valued at $215,000. Wasatch Advisors Inc. raised its position in Proofpoint by 52.2% in the 2nd quarter. Wasatch Advisors Inc. now owns 728,526 shares of the software maker’s stock valued at $63,258,000 after purchasing an additional 249,919 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Proofpoint by 46.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,142 shares of the software maker’s stock valued at $1,749,000 after purchasing an additional 6,357 shares during 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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