Investment Analysts’ Recent Ratings Changes for Proofpoint (PFPT)

Several brokerages have updated their recommendations and price targets on shares of Proofpoint (NASDAQ: PFPT) in the last few weeks:

• 7/25/2017 – Proofpoint had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $90.00 price target on the stock.
• 7/21/2017 – Proofpoint is now covered by analysts at Needham & Company LLC. They set a “buy” rating and a $115.00 price target on the stock.
• 7/20/2017 – Proofpoint had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $102.00 price target on the stock, up previously from $97.00.
• 7/14/2017 – Proofpoint had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $93.00 price target on the stock, down previously from $98.00.
• 6/30/2017 – Proofpoint had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $100.00 price target on the stock.
• 6/23/2017 – Proofpoint had its “buy” rating reaffirmed by analysts at Stifel Nicolaus.
• 6/7/2017 – Proofpoint is now covered by analysts at Susquehanna Bancshares Inc. They set a “positive” rating and a $106.00 price target on the stock.
• 6/7/2017 – Proofpoint is now covered by analysts at Stifel Nicolaus. They set a “buy” rating and a $90.00 price target on the stock.
• 6/2/2017 – Proofpoint was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

Proofpoint, Inc. (NASDAQ PFPT) opened at 88.44 on Friday. The stock’s market capitalization is $3.87 billion. The stock’s 50 day moving average is $87.93 and its 200 day moving average is $82.00. Proofpoint, Inc. has a 12-month low of $67.50 and a 12-month high of $94.33.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.05. Proofpoint had a negative net margin of 25.63% and a negative return on equity of 126.46%. The firm had revenue of $122.30 million during the quarter, compared to analysts’ expectations of $119.58 million. During the same quarter in the prior year, the company earned $0.06 EPS. The company’s revenue was up 36.0% compared to the same quarter last year. Equities analysts predict that Proofpoint, Inc. will post $0.59 earnings per share for the current fiscal year.

In related news, SVP Robert Darren Lee sold 2,750 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $87.75, for a total transaction of $241,312.50. Following the completion of the sale, the senior vice president now owns 7,619 shares of the company’s stock, valued at $668,567.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bhagwat Swaroop sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $85.17, for a total transaction of $425,850.00. Following the sale, the executive vice president now directly owns 13,161 shares of the company’s stock, valued at approximately $1,120,922.37. The disclosure for this sale can be found here. Insiders sold a total of 189,549 shares of company stock valued at $16,234,464 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.

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.