Proofpoint Inc (PFPT) Receives Consensus Recommendation of “Buy” from Analysts

Proofpoint Inc (NASDAQ:PFPT) has received a consensus recommendation of “Buy” from the twenty-three research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $132.05.

PFPT has been the topic of a number of recent analyst reports. Monness Crespi & Hardt boosted their price target on Proofpoint from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 1st. Mizuho initiated coverage on Proofpoint in a research report on Tuesday, March 26th. They set a “neutral” rating and a $120.00 price target on the stock. Piper Jaffray Companies boosted their price target on Proofpoint from $120.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Wedbush reissued an “outperform” rating and set a $138.00 price target (up previously from $130.00) on shares of Proofpoint in a research report on Friday, April 26th. Finally, KeyCorp boosted their price target on Proofpoint from $120.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday, February 25th.

PFPT opened at $121.54 on Friday. Proofpoint has a 52-week low of $75.92 and a 52-week high of $131.43. The stock has a market cap of $6.66 billion, a P/E ratio of -105.69 and a beta of 1.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.79 and a current ratio of 0.79.

Proofpoint (NASDAQ:PFPT) last released its earnings results on Thursday, April 25th. The software maker reported ($0.33) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.33). The business had revenue of $202.90 million for the quarter, compared to analyst estimates of $199.32 million. Proofpoint had a negative return on equity of 13.93% and a negative net margin of 15.82%. Proofpoint’s revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. Equities research analysts predict that Proofpoint will post -0.82 EPS for the current year.

In other news, CFO Paul R. Auvil III sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $122.61, for a total value of $3,678,300.00. Following the transaction, the chief financial officer now owns 106,208 shares of the company’s stock, valued at $13,022,162.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dana L. Evan sold 3,051 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $113.85, for a total value of $347,356.35. Following the completion of the transaction, the director now directly owns 8,783 shares in the company, valued at approximately $999,944.55. The disclosure for this sale can be found here. Insiders sold 119,227 shares of company stock worth $14,448,248 in the last ninety days. 2.93% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc grew its position in Proofpoint by 3.2% during the third quarter. Vanguard Group Inc now owns 4,460,432 shares of the software maker’s stock worth $474,277,000 after buying an additional 137,876 shares in the last quarter. BlackRock Inc. grew its position in Proofpoint by 2.4% during the first quarter. BlackRock Inc. now owns 2,445,564 shares of the software maker’s stock worth $296,965,000 after buying an additional 56,860 shares in the last quarter. FMR LLC grew its position in Proofpoint by 9.5% during the fourth quarter. FMR LLC now owns 1,661,727 shares of the software maker’s stock worth $139,269,000 after buying an additional 144,796 shares in the last quarter. JPMorgan Chase & Co. grew its position in Proofpoint by 5.7% during the first quarter. JPMorgan Chase & Co. now owns 1,561,751 shares of the software maker’s stock worth $189,643,000 after buying an additional 84,383 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Proofpoint by 14.9% during the first quarter. Wells Fargo & Company MN now owns 1,430,731 shares of the software maker’s stock worth $173,733,000 after buying an additional 185,889 shares in the last quarter. 94.79% of the stock is currently owned by institutional investors and hedge funds.

About Proofpoint

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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