Proofpoint’s (PFPT) “Outperform” Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Proofpoint (NASDAQ:PFPT) in a research note released on Wednesday. Wedbush currently has a $108.00 price objective on the software maker’s stock.

PFPT has been the subject of several other reports. Monness Crespi & Hardt started coverage on Proofpoint in a report on Monday, October 16th. They set a buy rating and a $110.00 price target for the company. Oppenheimer started coverage on Proofpoint in a report on Wednesday, November 1st. They set a market perform rating for the company. Needham & Company LLC reissued a buy rating and set a $115.00 price target on shares of Proofpoint in a report on Monday, September 11th. Macquarie reissued an outperform rating and set a $103.00 price target on shares of Proofpoint in a report on Tuesday, September 26th. Finally, Evercore ISI set a $105.00 price target on Proofpoint and gave the stock a buy rating in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $102.48.

Proofpoint (PFPT) traded up $1.99 during trading hours on Wednesday, reaching $94.73. The company had a trading volume of 399,400 shares, compared to its average volume of 421,400. The firm has a market cap of $4,290.00, a PE ratio of -42.86 and a beta of 1.32. The company has a debt-to-equity ratio of 11.57, a quick ratio of 1.51 and a current ratio of 1.51. Proofpoint has a 1-year low of $70.30 and a 1-year high of $97.92.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The business had revenue of $134.30 million during the quarter, compared to analysts’ expectations of $131.48 million. Proofpoint had a negative return on equity of 158.19% and a negative net margin of 20.19%. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period last year, the firm posted $0.19 EPS. equities research analysts predict that Proofpoint will post -0.88 earnings per share for the current fiscal year.

In other news, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $90.88, for a total value of $3,635,200.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Eric Hahn sold 5,000 shares of Proofpoint stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $89.48, for a total value of $447,400.00. The disclosure for this sale can be found here. Insiders sold a total of 160,549 shares of company stock valued at $14,416,802 over the last ninety days. Insiders own 5.96% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. increased its stake in shares of Proofpoint by 57.9% in the 2nd quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after purchasing an additional 431 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Proofpoint in the 2nd quarter valued at $215,000. Bluestein R H & Co. bought a new stake in Proofpoint during the 2nd quarter worth $217,000. Gotham Asset Management LLC bought a new stake in Proofpoint during the 2nd quarter worth $222,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Proofpoint by 17.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,724 shares of the software maker’s stock worth $235,000 after acquiring an additional 409 shares during the last quarter.

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About Proofpoint

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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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