Proofpoint, Inc. (PFPT) Rating Increased to Hold at ValuEngine
Proofpoint, Inc. (NASDAQ:PFPT) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday.
PFPT has been the topic of several other research reports. Cowen and Company assumed coverage on Proofpoint in a report on Thursday, August 17th. They set an “outperform” rating and a $105.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $93.00 target price (down previously from $98.00) on shares of Proofpoint in a report on Friday, July 14th. Northland Securities reissued a “buy” rating and set a $100.00 target price on shares of Proofpoint in a report on Friday, June 30th. Needham & Company LLC assumed coverage on Proofpoint in a report on Friday, July 21st. They set a “buy” rating and a $115.00 target price on the stock. Finally, Dougherty & Co boosted their target price on Proofpoint from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $93.43.
Proofpoint (NASDAQ PFPT) opened at 91.70 on Friday. Proofpoint has a 52 week low of $68.04 and a 52 week high of $94.33. The stock’s 50 day moving average price is $89.01 and its 200-day moving average price is $83.42. The stock’s market capitalization is $4.07 billion.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. The business had revenue of $122.30 million during the quarter, compared to the consensus estimate of $119.58 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The business’s revenue was up 36.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. Equities research analysts expect that Proofpoint will post $0.65 earnings per share for the current year.
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In related news, Chairman Eric Hahn sold 5,000 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $91.09, for a total value of $455,450.00. Following the completion of the sale, the chairman now directly owns 58,701 shares in the company, valued at $5,347,074.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul R. Auvil III sold 25,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $90.54, for a total transaction of $2,263,500.00. Following the completion of the sale, the chief financial officer now owns 104,705 shares of the company’s stock, valued at $9,479,990.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,549 shares of company stock worth $14,058,191. 6.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of PFPT. Russell Investments Group Ltd. boosted its stake in shares of Proofpoint by 1.3% in the first quarter. Russell Investments Group Ltd. now owns 96,079 shares of the software maker’s stock worth $7,144,000 after buying an additional 1,220 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in shares of Proofpoint during the first quarter worth about $351,000. Canada Pension Plan Investment Board acquired a new stake in shares of Proofpoint during the first quarter worth about $535,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Proofpoint during the first quarter worth about $220,000. Finally, First Trust Advisors LP boosted its stake in shares of Proofpoint by 7.8% in the first quarter. First Trust Advisors LP now owns 92,804 shares of the software maker’s stock worth $6,901,000 after buying an additional 6,690 shares in 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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