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.

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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.

About Proofpoint

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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