Proofpoint’s (PFPT) “Buy” Rating Reaffirmed at Monness Crespi & Hardt

Monness Crespi & Hardt restated their buy rating on shares of Proofpoint (NASDAQ:PFPT) in a research report report published on Wednesday, Briefing.com Automated Import reports. The brokerage currently has a $137.00 price objective on the software maker’s stock, up from their prior price objective of $120.00.

A number of other research firms have also weighed in on PFPT. Mizuho initiated coverage on shares of Proofpoint in a research note on Tuesday, March 26th. They issued a neutral rating and a $120.00 price objective on the stock. Piper Jaffray Companies raised their price objective on shares of Proofpoint from $120.00 to $136.00 and gave the company an overweight rating in a research note on Monday, April 8th. KeyCorp raised their price objective on shares of Proofpoint from $120.00 to $136.00 and gave the company an overweight rating in a research note on Monday, February 25th. Zacks Investment Research lowered shares of Proofpoint from a hold rating to a sell rating in a research note on Thursday, January 10th. Finally, BidaskClub lowered shares of Proofpoint from a buy rating to a hold rating in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $127.57.

Proofpoint stock opened at $121.38 on Wednesday. Proofpoint has a 1-year low of $75.92 and a 1-year high of $130.27. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of -105.55 and a beta of 1.83.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, January 31st. The software maker reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.15. Proofpoint had a negative net margin of 14.47% and a negative return on equity of 12.20%. The firm had revenue of $198.48 million for the quarter, compared to analyst estimates of $192.92 million. On average, equities research analysts anticipate that Proofpoint will post -1.18 EPS for the current fiscal year.

In related news, CEO Gary Steele sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $122.16, for a total transaction of $2,443,200.00. Following the transaction, the chief executive officer now directly owns 162,209 shares of the company’s stock, valued at $19,815,451.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul R. Auvil III sold 30,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $122.61, for a total transaction of $3,678,300.00. Following the transaction, the chief financial officer now directly owns 106,208 shares in the company, valued at $13,022,162.88. The disclosure for this sale can be found here. Insiders have sold 132,958 shares of company stock worth $16,011,870 over the last three months. 3.37% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFPT. MML Investors Services LLC increased its holdings in Proofpoint by 0.9% during the fourth quarter. MML Investors Services LLC now owns 9,399 shares of the software maker’s stock worth $788,000 after buying an additional 88 shares during the last quarter. Nordea Investment Management AB increased its holdings in Proofpoint by 47.0% during the third quarter. Nordea Investment Management AB now owns 38,848 shares of the software maker’s stock worth $4,130,000 after buying an additional 12,420 shares during the last quarter. Thornburg Investment Management Inc. increased its holdings in Proofpoint by 90.4% during the fourth quarter. Thornburg Investment Management Inc. now owns 123,938 shares of the software maker’s stock worth $10,387,000 after buying an additional 58,838 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Proofpoint by 13.1% during the fourth quarter. Great West Life Assurance Co. Can now owns 5,933 shares of the software maker’s stock worth $480,000 after buying an additional 686 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning increased its holdings in Proofpoint by 19.9% during the fourth quarter. Handelsinvest Investeringsforvaltning now owns 41,248 shares of the software maker’s stock worth $3,457,000 after buying an additional 6,848 shares during the last quarter. 95.85% of the stock is currently owned by 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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