Citigroup Increases Proofpoint (PFPT) Price Target to $140.00

Proofpoint (NASDAQ:PFPT) had its target price increased by research analysts at Citigroup from $118.00 to $140.00 in a research note issued to investors on Monday. The brokerage presently has a “buy” rating on the software maker’s stock. Citigroup’s price target suggests a potential upside of 12.91% from the company’s current price.

Other analysts have also issued research reports about the company. Zacks Investment Research lowered Proofpoint from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Proofpoint in a research note on Monday, April 9th. Cowen reaffirmed a “buy” rating on shares of Proofpoint in a research note on Thursday, March 1st. Dougherty & Co reaffirmed a “buy” rating and issued a $125.00 price target (up previously from $118.00) on shares of Proofpoint in a research note on Tuesday, March 6th. Finally, Piper Jaffray reaffirmed an “overweight” rating and issued a $134.00 price target on shares of Proofpoint in a research note on Friday, March 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $114.72.

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Shares of Proofpoint stock traded up $2.63 on Monday, hitting $123.99. The stock had a trading volume of 63,404 shares, compared to its average volume of 606,120. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.07. Proofpoint has a one year low of $70.30 and a one year high of $124.30. The stock has a market capitalization of $6,134.30, a price-to-earnings ratio of -94.36 and a beta of 1.18.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.08. Proofpoint had a negative net margin of 16.37% and a negative return on equity of 54.09%. The firm had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $139.61 million. During the same quarter last year, the business earned $0.18 earnings per share. The business’s revenue was up 36.1% on a year-over-year basis. equities research analysts forecast that Proofpoint will post -1.01 earnings per share for the current fiscal year.

In other Proofpoint news, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $102.40, for a total transaction of $4,096,000.00. Following the completion of the transaction, the chief executive officer now owns 94,203 shares of the company’s stock, valued at $9,646,387.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert Darren Lee sold 5,711 shares of the firm’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $81.45, for a total value of $465,160.95. The disclosure for this sale can be found here. Insiders have sold 99,197 shares of company stock valued at $10,137,204 in the last three months. Insiders own 5.96% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PFPT. Exane Derivatives raised its position in shares of Proofpoint by 901.8% in the 4th quarter. Exane Derivatives now owns 1,713 shares of the software maker’s stock worth $152,000 after purchasing an additional 1,542 shares during the last quarter. Sigma Planning Corp purchased a new position in shares of Proofpoint in the 4th quarter worth about $238,000. GSA Capital Partners LLP purchased a new position in shares of Proofpoint in the 3rd quarter worth about $317,000. Balter Liquid Alternatives LLC purchased a new position in shares of Proofpoint in the 4th quarter worth about $407,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Proofpoint in the 4th quarter worth about $429,000.

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About Proofpoint

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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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