Proofpoint (NASDAQ:PFPT) had its price target upped by equities research analysts at Needham & Company LLC to $138.00 in a report released on Tuesday. The firm presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 14.89% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other research analysts have also issued research reports about the stock. Dougherty & Co increased their target price on shares of Proofpoint from $108.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. TheStreet raised shares of Proofpoint from a “d” rating to a “c-” rating in a research note on Wednesday, February 7th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $120.00 target price (up previously from $115.00) on shares of Proofpoint in a research note on Friday, March 2nd. ValuEngine raised shares of Proofpoint from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Goldman Sachs raised shares of Proofpoint from a “sell” rating to a “neutral” rating and set a $112.00 target price for the company in a research note on Tuesday, April 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $120.36.
Shares of PFPT opened at $120.11 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. Proofpoint has a 12-month low of $74.42 and a 12-month high of $127.35. The stock has a market capitalization of $6,204.06, a P/E ratio of -91.69 and a beta of 1.19.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.08. The firm had revenue of $145.40 million during the quarter, compared to analyst estimates of $139.61 million. Proofpoint had a negative net margin of 16.37% and a negative return on equity of 54.09%. Proofpoint’s quarterly revenue was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. equities research analysts anticipate that Proofpoint will post -1.01 EPS for the current year.
In related news, Chairman Eric Hahn sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $105.93, for a total value of $529,650.00. Following the sale, the chairman now owns 28,001 shares of the company’s stock, valued at $2,966,145.93. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bhagwat Swaroop sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $98.86, for a total transaction of $88,974.00. Following the completion of the sale, the executive vice president now directly owns 4,077 shares in the company, valued at approximately $403,052.22. The disclosure for this sale can be found here. Insiders have sold 86,303 shares of company stock worth $9,007,666 in the last three months. Corporate insiders own 3.37% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. TIAA CREF Investment Management LLC raised its holdings in Proofpoint by 25.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,348,936 shares of the software maker’s stock valued at $119,799,000 after acquiring an additional 271,581 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Proofpoint by 3.9% in the fourth quarter. Macquarie Group Ltd. now owns 952,921 shares of the software maker’s stock valued at $84,629,000 after acquiring an additional 35,818 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Proofpoint by 13.4% in the fourth quarter. Alliancebernstein L.P. now owns 672,156 shares of the software maker’s stock valued at $59,694,000 after acquiring an additional 79,595 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Proofpoint by 3.7% in the fourth quarter. Victory Capital Management Inc. now owns 654,152 shares of the software maker’s stock valued at $58,095,000 after acquiring an additional 23,390 shares in the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new stake in Proofpoint in the fourth quarter valued at approximately $56,177,000.
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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.
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