Proofpoint, Inc. (NASDAQ:PFPT) - Research analysts at Dougherty & Co issued their Q3 2017 earnings estimates for Proofpoint in a report released on Thursday. Dougherty & Co analyst C. Trebnick forecasts that the software maker will earn ($0.24) per share for the quarter. Dougherty & Co has a “Buy” rating and a $100.00 price target on the stock.
A number of other research firms have also weighed in on PFPT. Cowen and Company started coverage on shares of Proofpoint in a report on Thursday, August 17th. They set an “outperform” rating and a $105.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $93.00 target price (down from $98.00) on shares of Proofpoint in a report on Friday, July 14th. ValuEngine upgraded shares of Proofpoint from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Northland Securities reiterated a “buy” rating and set a $100.00 target price on shares of Proofpoint in a report on Friday, June 30th. Finally, Needham & Company LLC started coverage on shares of Proofpoint in a report on Friday, July 21st. They set a “buy” rating and a $115.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-one have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $93.43.
Proofpoint (PFPT) opened at 88.53 on Monday. The company’s market capitalization is $3.93 billion. The company’s 50-day moving average price is $87.79 and its 200 day moving average price is $82.88. Proofpoint has a 12 month low of $68.04 and a 12 month high of $94.33.
Proofpoint (NASDAQ:PFPT) last announced its earnings results 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 analyst estimates of $119.58 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. Proofpoint’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS.
In other Proofpoint news, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $87.11, for a total transaction of $3,484,400.00. Following the completion of the transaction, the chief executive officer now owns 88,551 shares of the company’s stock, valued at $7,713,677.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Knight sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $84.54, for a total transaction of $253,620.00. Following the transaction, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at approximately $1,426,527.96. The disclosure for this sale can be found here. Insiders have sold 113,299 shares of company stock valued at $9,990,173 in the last ninety days. Insiders own 6.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of Proofpoint during the second quarter worth $215,000. Wasatch Advisors Inc. increased its position in shares of Proofpoint by 52.2% in the second quarter. Wasatch Advisors Inc. now owns 728,526 shares of the software maker’s stock worth $63,258,000 after buying an additional 249,919 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Proofpoint by 46.1% in the second quarter. Public Employees Retirement System of Ohio now owns 20,142 shares of the software maker’s stock worth $1,749,000 after buying an additional 6,357 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Proofpoint by 41.9% in the second quarter. Sterling Capital Management LLC now owns 33,497 shares of the software maker’s stock worth $2,909,000 after buying an additional 9,884 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Proofpoint by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,771 shares of the software maker’s stock worth $327,000 after buying an additional 245 shares in the last quarter.
About Proofpoint
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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