Proofpoint, Inc. (NASDAQ:PFPT) had its price target increased by research analysts at Morgan Stanley from $97.00 to $102.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “overweight” rating on the software maker’s stock. Morgan Stanley’s price objective would indicate a potential upside of 10.29% from the stock’s current price.
PFPT has been the subject of several other research reports. DA Davidson raised Proofpoint from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $90.00 in a research note on Wednesday, April 19th. Wedbush lifted their price target on Proofpoint from $90.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. FBN Securities assumed coverage on Proofpoint in a research note on Monday, May 22nd. They set an “outperform” rating and a $95.00 price target for the company. Deutsche Bank AG reissued a “buy” rating and issued a $90.00 target price (up previously from $85.00) on shares of Proofpoint in a research note on Sunday, April 23rd. Finally, Evercore ISI set a $90.00 target price on shares of Proofpoint and gave the company a “buy” rating in a research note on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $88.70.
Shares of Proofpoint (PFPT) traded down 0.74% during midday trading on Thursday, hitting $92.48. 773,094 shares of the stock were exchanged. The firm’s market cap is $4.04 billion. The firm has a 50-day moving average price of $87.73 and a 200 day moving average price of $81.44. Proofpoint has a 12-month low of $64.62 and a 12-month high of $94.33.
Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, April 20th. The software maker reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. The company had revenue of $113.30 million for the quarter, compared to analyst estimates of $110.60 million. Proofpoint had a negative net margin of 25.63% and a negative return on equity of 126.46%. The business’s revenue was up 43.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. Analysts predict that Proofpoint will post $0.59 earnings per share for the current fiscal year.
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In other Proofpoint news, CEO Gary Steele sold 40,000 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $80.38, for a total value of $3,215,200.00. Following the sale, the chief executive officer now directly owns 61,780 shares of the company’s stock, valued at $4,965,876.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Darren Lee sold 3,250 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $75.26, for a total value of $244,595.00. Following the completion of the sale, the senior vice president now directly owns 4,131 shares in the company, valued at $310,899.06. The disclosure for this sale can be found here. Insiders sold 189,549 shares of company stock worth $16,234,464 over the last ninety days. 6.80% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of PFPT. Ladenburg Thalmann Financial Services Inc. boosted its position in Proofpoint by 242.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,578 shares of the software maker’s stock valued at $113,000 after buying an additional 1,117 shares during the last quarter. Creative Planning boosted its position in 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. Legato Capital Management LLC acquired a new position in Proofpoint during the second quarter valued at about $204,000. DekaBank Deutsche Girozentrale boosted its position in Proofpoint by 400.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock valued at $185,000 after buying an additional 2,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Proofpoint by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock valued at $215,000 after buying an additional 446 shares during the last quarter.
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.