A number of other equities analysts have also commented on the company. Morgan Stanley reiterated an overweight rating and issued a $102.00 price objective (up from $97.00) on shares of Proofpoint in a research note on Thursday, July 20th. Stifel Nicolaus reissued a buy rating on shares of Proofpoint in a research report on Friday, June 23rd. Northland Securities reissued a buy rating and set a $100.00 target price on shares of Proofpoint in a research report on Friday, June 30th. FBN Securities started coverage on Proofpoint in a research report on Monday, May 22nd. They set an outperform rating and a $95.00 target price on the stock. Finally, ValuEngine raised Proofpoint from a sell rating to a hold rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have given a buy rating to the company. Proofpoint presently has an average rating of Buy and an average target price of $98.91.
Proofpoint (NASDAQ:PFPT) opened at 87.78 on Monday. The company has a 50-day moving average price of $88.88 and a 200-day moving average price of $83.90. Proofpoint has a one year low of $68.04 and a one year high of $97.00. The stock’s market cap is $3.90 billion.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $122.30 million for the quarter, compared to analyst estimates of $119.58 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. On average, analysts anticipate that Proofpoint will post $0.65 earnings per share for the current year.
In related news, EVP Bhagwat Swaroop sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $85.17, for a total value of $425,850.00. Following the completion of the transaction, the executive vice president now owns 13,161 shares in the company, valued at approximately $1,120,922.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary Steele sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $87.11, for a total transaction of $3,484,400.00. Following the completion of the transaction, the chief executive officer now owns 88,551 shares of the company’s stock, valued at approximately $7,713,677.61. The disclosure for this sale can be found here. Insiders sold a total of 130,549 shares of company stock valued at $11,524,841 in the last 90 days. 6.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of PFPT. BlackRock Inc. raised its position in Proofpoint by 22,439.7% in the 1st quarter. BlackRock Inc. now owns 3,193,429 shares of the software maker’s stock worth $237,464,000 after purchasing an additional 3,179,261 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Proofpoint by 161.6% in the 1st quarter. Artisan Partners Limited Partnership now owns 2,313,715 shares of the software maker’s stock worth $172,048,000 after purchasing an additional 1,429,192 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Proofpoint by 249.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 823,521 shares of the software maker’s stock worth $71,506,000 after purchasing an additional 588,015 shares during the last quarter. ETF Managers Group LLC bought a new position in Proofpoint in the 2nd quarter worth approximately $43,157,000. Finally, Teachers Advisors LLC raised its position in Proofpoint by 86.8% in the 2nd quarter. Teachers Advisors LLC now owns 549,680 shares of the software maker’s stock worth $47,729,000 after purchasing an additional 255,391 shares during the last quarter.
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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