Proofpoint Inc (NASDAQ:PFPT) has been given a consensus rating of “Buy” by the seventeen research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $141.25.

A number of analysts have issued reports on the stock. BidaskClub upgraded shares of Proofpoint from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 14th. DA Davidson dropped their price target on shares of Proofpoint from $155.00 to $124.00 and set a “buy” rating on the stock in a research report on Monday. Oppenheimer reissued a “hold” rating on shares of Proofpoint in a research report on Friday, July 31st. Piper Sandler lifted their price target on shares of Proofpoint from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Robert W. Baird reissued a “buy” rating on shares of Proofpoint in a research report on Friday, July 31st.

NASDAQ PFPT traded down $3.15 during trading on Friday, reaching $104.33. The company’s stock had a trading volume of 7,754 shares, compared to its average volume of 673,280. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $6.20 billion, a PE ratio of -35.85 and a beta of 1.28. The business has a 50-day moving average price of $106.07 and a 200-day moving average price of $112.30. Proofpoint has a 1-year low of $83.81 and a 1-year high of $133.00.

Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, July 30th. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.78. The firm had revenue of $258.44 million during the quarter, compared to analysts’ expectations of $252.95 million. Proofpoint had a negative net margin of 17.35% and a negative return on equity of 7.11%. As a group, analysts expect that Proofpoint will post -0.65 earnings per share for the current year.

In related news, EVP David Knight sold 2,500 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $105.56, for a total transaction of $263,900.00. Following the transaction, the executive vice president now owns 16,721 shares of the company’s stock, valued at $1,765,068.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary Steele sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $103.22, for a total transaction of $1,032,200.00. Following the transaction, the chief executive officer now directly owns 43,272 shares in the company, valued at approximately $4,466,535.84. The disclosure for this sale can be found here. Insiders have sold 63,218 shares of company stock worth $7,242,826 in the last ninety days. 2.93% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Proofpoint by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,342,347 shares of the software maker’s stock valued at $593,642,000 after buying an additional 29,500 shares during the period. Wasatch Advisors Inc. increased its holdings in Proofpoint by 9.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,845,529 shares of the software maker’s stock valued at $205,075,000 after buying an additional 160,994 shares during the period. Nuveen Asset Management LLC increased its holdings in Proofpoint by 38.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,473,114 shares of the software maker’s stock valued at $163,692,000 after buying an additional 412,619 shares during the period. Bank of America Corp DE increased its holdings in Proofpoint by 15.8% in the 2nd quarter. Bank of America Corp DE now owns 1,153,552 shares of the software maker’s stock valued at $128,182,000 after buying an additional 157,157 shares during the period. Finally, FMR LLC increased its holdings in Proofpoint by 37.9% in the 2nd quarter. FMR LLC now owns 1,149,787 shares of the software maker’s stock valued at $127,764,000 after buying an additional 315,951 shares during the period. 93.32% of the stock is currently owned by hedge funds and other institutional investors.

Proofpoint Company Profile

Proofpoint, Inc operates as a security-as-a-service 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.

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Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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