Stifel Nicolaus Reaffirms “Buy” Rating for Proofpoint, Inc. (NASDAQ:PFPT)
Stifel Nicolaus reaffirmed their buy rating on shares of Proofpoint, Inc. (NASDAQ:PFPT) in a research note issued to investors on Tuesday morning. The firm currently has a $90.00 target price on the software maker’s stock.
Several other research firms have also issued reports on PFPT. Wedbush reissued an outperform rating and issued a $93.00 price target (down previously from $98.00) on shares of Proofpoint in a research report on Friday, July 14th. ValuEngine raised shares of Proofpoint from a sell rating to a hold rating in a research report on Friday, June 2nd. Northland Securities reissued a buy rating and issued a $100.00 price target on shares of Proofpoint in a research report on Friday, June 30th. Rosenblatt Securities reissued a buy rating and issued a $95.00 price target on shares of Proofpoint in a research report on Sunday, April 23rd. Finally, Piper Jaffray Companies set a $90.00 price target on shares of Proofpoint and gave the company a buy rating in a research report on Friday, April 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-one have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $92.35.
Shares of Proofpoint (NASDAQ:PFPT) traded up 0.66% on Tuesday, hitting $89.02. 1,381,311 shares of the company’s stock were exchanged. Proofpoint has a 12 month low of $68.04 and a 12 month high of $94.33. The stock’s 50 day moving average is $87.82 and its 200 day moving average is $82.08. The firm’s market cap is $3.95 billion.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 132.13%. The company had revenue of $122.30 million for the quarter, compared to analyst estimates of $119.58 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. On average, equities analysts predict that Proofpoint will post $0.59 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 that occurred on Monday, July 17th. The shares were sold at an average price of $89.08, for a total value of $728,941.64. Following the completion of the transaction, the executive vice president now owns 15,195 shares of the company’s stock, valued at approximately $1,353,570.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Knight sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $92.45, for a total transaction of $277,350.00. Following the completion of the transaction, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at approximately $1,560,001.30. The disclosure for this sale can be found here. In the last three months, insiders sold 189,549 shares of company stock valued at $16,234,464. Corporate insiders own 6.80% of the company’s stock.
Several large investors have recently made changes to their positions in PFPT. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Proofpoint by 242.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,578 shares of the software maker’s stock worth $113,000 after buying an additional 1,117 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Proofpoint by 400.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock worth $185,000 after buying an additional 2,000 shares during the period. 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 worth $194,000 after buying an additional 154 shares during the period. Legato Capital Management LLC acquired a new stake in shares of Proofpoint during the second quarter worth about $204,000. Finally, Envestnet Asset Management Inc. boosted 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 worth $215,000 after buying an additional 446 shares during the period.
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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