Proofpoint (PFPT) Upgraded to Buy at BidaskClub
BidaskClub upgraded shares of Proofpoint (NASDAQ:PFPT) from a hold rating to a buy rating in a report issued on Friday.
Other equities analysts have also issued research reports about the stock. Deutsche Bank upped their price target on shares of Proofpoint from $95.00 to $100.00 and gave the stock a buy rating in a research report on Friday, September 8th. BTIG Research reaffirmed a buy rating and set a $110.00 price target on shares of Proofpoint in a research report on Monday, September 11th. Stifel Nicolaus set a $100.00 price target on shares of Proofpoint and gave the stock a buy rating in a research report on Monday, October 16th. Robert W. Baird reaffirmed a hold rating and set a $95.00 price target on shares of Proofpoint in a research report on Friday, September 8th. Finally, KeyCorp reaffirmed a hold rating on shares of Proofpoint in a research report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, six have assigned 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 an average price target of $102.43.
Shares of Proofpoint (NASDAQ:PFPT) traded down $0.76 during mid-day trading on Friday, reaching $91.44. 283,353 shares of the company traded hands, compared to its average volume of 447,097. Proofpoint has a 1 year low of $69.24 and a 1 year high of $97.92. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 11.57. The firm has a market capitalization of $4,133.76, a price-to-earnings ratio of -41.38 and a beta of 1.32.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, October 19th. The software maker reported $0.25 EPS for the quarter, topping the consensus estimate of $0.18 by $0.07. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 158.19%. The firm had revenue of $134.30 million during the quarter, compared to analyst estimates of $131.48 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. Proofpoint’s revenue for the quarter was up 34.6% compared to the same quarter last year. sell-side analysts anticipate that Proofpoint will post -0.88 earnings per share for the current fiscal year.
In other news, EVP David Knight sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $88.99, for a total value of $266,970.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary Steele sold 40,000 shares of the company’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $92.35, for a total transaction of $3,694,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,549 shares of company stock valued at $15,141,422. 5.96% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. boosted its stake in shares of Proofpoint by 57.9% in the second 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 period. Dynamic Technology Lab Private Ltd bought a new position in Proofpoint during the 2nd quarter valued at $215,000. Bluestein R H & Co. bought a new position in Proofpoint during the 2nd quarter valued at $217,000. Gotham Asset Management LLC bought a new position in Proofpoint during the 2nd quarter valued at $222,000. Finally, Marshall Wace LLP bought a new position in Proofpoint during the 2nd quarter valued at $225,000.
TRADEMARK VIOLATION WARNING: This piece was published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://theolympiareport.com/2017/12/23/proofpoint-pfpt-upgraded-to-buy-at-bidaskclub.html.
Proofpoint Company Profile
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.
Receive News & Ratings for Proofpoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint and related companies with Analyst Ratings Network's FREE daily email newsletter.