Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “overweight” rating reiterated by stock analysts at Morgan Stanley in a report released on Thursday. They presently have a $102.00 price target on the software maker’s stock, up from their prior price target of $97.00. Morgan Stanley’s target price points to a potential upside of 11.49% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Proofpoint from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Monday, April 24th. Rosenblatt Securities restated a “buy” rating and set a $95.00 price objective on shares of Proofpoint in a research note on Sunday, April 23rd. Stifel Nicolaus restated a “buy” rating and set a $90.00 price objective on shares of Proofpoint in a research note on Sunday, April 23rd. Deutsche Bank AG restated a “buy” rating and set a $90.00 price objective (up previously from $85.00) on shares of Proofpoint in a research note on Sunday, April 23rd. Finally, Wunderlich restated a “buy” rating and set a $93.00 price objective on shares of Proofpoint in a research note on Sunday, April 23rd. One 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 company presently has an average rating of “Buy” and a consensus price target of $89.87.
Proofpoint (NASDAQ PFPT) traded down 1.07% during midday trading on Thursday, reaching $91.49. The company’s stock had a trading volume of 499,003 shares. Proofpoint has a 1-year low of $67.50 and a 1-year high of $94.33. The company has a 50 day moving average of $87.91 and a 200-day moving average of $81.52. The company’s market capitalization is $4.00 billion.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, April 20th. The software maker reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.03. The company had revenue of $113.30 million for the quarter, compared to analysts’ expectations of $110.60 million. Proofpoint had a negative return on equity of 126.46% and a negative net margin of 25.63%. The firm’s quarterly revenue was up 43.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Equities research analysts anticipate that Proofpoint will post $0.59 earnings per share for the current fiscal year.
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In other Proofpoint news, CFO Paul R. Auvil III sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $86.08, for a total transaction of $2,152,000.00. Following the sale, the chief financial officer now owns 120,478 shares in the company, valued at $10,370,746.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert Darren Lee sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $87.75, for a total value of $241,312.50. Following the sale, the senior vice president now owns 7,619 shares in the company, valued at approximately $668,567.25. The disclosure for this sale can be found here. Insiders have sold 189,549 shares of company stock worth $16,234,464 in the last 90 days. 6.80% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Insight Capital Research & Management Inc. purchased a new stake in shares of Proofpoint during the second quarter valued at about $2,409,000. Legato Capital Management LLC purchased a new stake in shares of Proofpoint during the second quarter valued at about $204,000. Aperio Group LLC boosted its stake in shares of Proofpoint by 19.8% in the second quarter. Aperio Group LLC now owns 3,591 shares of the software maker’s stock valued at $312,000 after buying an additional 594 shares during the last quarter. Crow Point Partners LLC purchased a new stake in shares of Proofpoint during the second quarter valued at about $757,000. Finally, Creative Planning boosted its stake in shares of Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after buying an additional 154 shares during the last quarter.
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.
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