Stifel Nicolaus Analysts Give Proofpoint, Inc. (PFPT) a $100.00 Price Target
Stifel Nicolaus set a $100.00 price objective on Proofpoint, Inc. (NASDAQ:PFPT) in a research report sent to investors on Monday morning. The brokerage currently has a buy rating on the software maker’s stock.
Several other brokerages also recently weighed in on PFPT. FBN Securities reiterated an outperform rating and issued a $105.00 price objective (up previously 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 objective for the company. Wedbush reiterated an outperform rating and issued a $93.00 price objective (down previously from $98.00) on shares of Proofpoint in a research report on Friday, July 14th. Robert W. Baird reiterated a hold rating and issued a $95.00 price objective on shares of Proofpoint in a research report on Friday, October 13th. Finally, Monness Crespi & Hardt initiated coverage on Proofpoint in a research report on Monday. They issued a buy rating and a $110.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $100.08.
Shares of Proofpoint (NASDAQ:PFPT) opened at 93.85 on Monday. Proofpoint has a 52-week low of $68.45 and a 52-week high of $97.00. The firm’s 50-day moving average is $91.20 and its 200-day moving average is $86.25. The firm’s market cap is $4.17 billion.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.05. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The firm had revenue of $122.30 million during the quarter, compared to the consensus estimate of $119.58 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s revenue was up 36.0% on a year-over-year basis. Analysts anticipate that Proofpoint will post $0.65 earnings per share for the current year.
WARNING: This story was published by Watch List News and is owned by of Watch List News. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.watchlistnews.com/stifel-nicolaus-analysts-give-proofpoint-inc-pfpt-a-100-00-price-target/1641219.html.
In other Proofpoint news, EVP Tracey Newell sold 8,183 shares of the business’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $94.82, for a total value of $775,912.06. Following the sale, the executive vice president now directly owns 25,001 shares of the company’s stock, valued at $2,370,594.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary Steele sold 40,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $88.60, for a total value of $3,544,000.00. Following the completion of the sale, the chief executive officer now directly owns 88,551 shares in the company, valued at $7,845,618.60. The disclosure for this sale can be found here. Insiders sold 168,549 shares of company stock worth $15,226,339 over the last three months. Corporate insiders own 6.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new stake in Proofpoint in the second quarter worth $215,000. Wasatch Advisors Inc. boosted its holdings in Proofpoint by 52.2% in the second quarter. Wasatch Advisors Inc. now owns 728,526 shares of the software maker’s stock worth $63,258,000 after acquiring an additional 249,919 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Proofpoint by 46.1% in the second quarter. Public Employees Retirement System of Ohio now owns 20,142 shares of the software maker’s stock worth $1,749,000 after acquiring an additional 6,357 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Proofpoint by 41.9% in the second quarter. Sterling Capital Management LLC now owns 33,497 shares of the software maker’s stock worth $2,909,000 after acquiring an additional 9,884 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in Proofpoint by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,771 shares of the software maker’s stock worth $327,000 after acquiring an additional 245 shares in the last quarter.
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.
Receive News & Ratings for Proofpoint Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.