Proofpoint (NASDAQ:PFPT) had its target price trimmed by Wedbush from $124.00 to $115.00 in a report issued on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the software maker’s stock. Wedbush also issued estimates for Proofpoint’s Q1 2019 earnings at ($0.40) EPS, Q2 2019 earnings at ($0.36) EPS, Q3 2019 earnings at ($0.26) EPS, Q4 2019 earnings at ($0.20) EPS, FY2019 earnings at ($1.23) EPS and FY2020 earnings at ($0.78) EPS. The analysts noted that the move was a valuation call.

A number of other analysts have also recently weighed in on PFPT. ValuEngine cut Proofpoint from a strong-buy rating to a buy rating in a research report on Tuesday, September 18th. BidaskClub cut Proofpoint from a hold rating to a sell rating in a report on Thursday, September 20th. Zacks Investment Research cut Proofpoint from a buy rating to a hold rating in a report on Tuesday, September 25th. Deutsche Bank decreased their target price on Proofpoint to $125.00 and set a buy rating on the stock in a report on Monday, October 1st. Finally, Robert W. Baird restated an outperform rating on shares of Proofpoint in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $121.68.

NASDAQ:PFPT traded up $2.08 during trading hours on Tuesday, reaching $92.11. The company had a trading volume of 37,468 shares, compared to its average volume of 561,782. Proofpoint has a one year low of $75.92 and a one year high of $130.27. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of -70.44 and a beta of 1.48.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, October 25th. The software maker reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.73. Proofpoint had a negative return on equity of 11.86% and a negative net margin of 14.08%. The firm had revenue of $184.18 million for the quarter, compared to analysts’ expectations of $181.69 million. Equities research analysts forecast that Proofpoint will post -1.14 earnings per share for the current fiscal year.

In other Proofpoint news, CEO Gary Steele sold 50,000 shares of the stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $95.31, for a total value of $4,765,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.37% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Proofpoint by 3.2% in the third quarter. Vanguard Group Inc. now owns 4,460,432 shares of the software maker’s stock worth $474,277,000 after acquiring an additional 137,876 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Proofpoint by 3.2% in the third quarter. Vanguard Group Inc now owns 4,460,432 shares of the software maker’s stock worth $474,277,000 after acquiring an additional 137,876 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Proofpoint by 1.0% in the third quarter. BlackRock Inc. now owns 2,488,546 shares of the software maker’s stock worth $264,607,000 after acquiring an additional 25,562 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Proofpoint by 149.9% in the third quarter. TIAA CREF Investment Management LLC now owns 1,812,611 shares of the software maker’s stock worth $192,735,000 after acquiring an additional 1,087,297 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Proofpoint by 22.2% during the third quarter. FMR LLC now owns 1,516,931 shares of the software maker’s stock worth $161,295,000 after buying an additional 276,000 shares in the last quarter. 97.49% of the stock is currently owned by hedge funds and other institutional investors.

Proofpoint Company Profile

Proofpoint, Inc operates as a security-as-a-service (SaaS) provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent ‘drive-by' downloads, malicious Web links, hybrid threats, malware free attacks, and other penetration tactics.

Further Reading: Back-End Load

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Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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