Piper Jaffray Companies set a $100.00 price objective on Proofpoint, Inc. (NASDAQ:PFPT) in a research note issued to investors on Sunday. The brokerage currently has a buy rating on the software maker’s stock.
PFPT has been the topic of a number of other reports. Royal Bank Of Canada reissued a buy rating and issued a $103.00 price objective on shares of Proofpoint in a research note on Thursday, August 31st. Wedbush reissued an outperform rating and issued a $104.00 price objective (up from $98.00) on shares of Proofpoint in a research note on Friday, July 28th. Evercore ISI reissued a buy rating and issued a $105.00 price objective on shares of Proofpoint in a research note on Wednesday, September 6th. FBN Securities assumed coverage on shares of Proofpoint in a research note on Monday, May 22nd. They issued an outperform rating and a $95.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Proofpoint from a hold rating to a buy rating and set a $95.00 price objective on the stock in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have issued a buy rating to the company. Proofpoint currently has a consensus rating of Buy and an average target price of $98.91.
Proofpoint (NASDAQ PFPT) opened at 90.05 on Friday. The stock has a 50 day moving average price of $89.03 and a 200 day moving average price of $83.76. The firm’s market capitalization is $4.00 billion. Proofpoint has a one year low of $68.04 and a one year high of $97.00.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $122.30 million for the quarter, compared to analysts’ expectations of $119.58 million. Proofpoint had a negative net margin of 20.96% and a negative return on equity of 140.24%. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. On average, equities analysts predict that Proofpoint will post $0.65 EPS for the current fiscal year.
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In other news, EVP Tracey Newell sold 8,183 shares of Proofpoint stock in a transaction on Monday, June 19th. The shares were sold at an average price of $87.69, for a total transaction of $717,567.27. Following the transaction, the executive vice president now owns 15,195 shares in the company, valued at $1,332,449.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of Proofpoint stock in a transaction on Friday, August 25th. The stock was sold at an average price of $91.09, for a total transaction of $455,450.00. Following the transaction, the chairman now owns 58,701 shares in the company, valued at approximately $5,347,074.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,549 shares of company stock worth $11,072,191. 6.80% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Comerica Bank lifted its holdings in shares of Proofpoint by 0.4% during the second quarter. Comerica Bank now owns 13,207 shares of the software maker’s stock worth $1,210,000 after purchasing an additional 51 shares during the period. Creative Planning lifted its holdings in shares of Proofpoint by 7.4% during the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock worth $194,000 after purchasing an additional 154 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Proofpoint by 5.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,902 shares of the software maker’s stock worth $339,000 after purchasing an additional 200 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Proofpoint by 3.8% during the second quarter. Principal Financial Group Inc. now owns 5,976 shares of the software maker’s stock worth $519,000 after purchasing an additional 216 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Proofpoint by 1.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 22,631 shares of the software maker’s stock worth $1,965,000 after purchasing an additional 222 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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