Proofpoint Inc (NASDAQ:PFPT) Given Consensus Rating of “Buy” by Brokerages

Shares of Proofpoint Inc (NASDAQ:PFPT) have been assigned an average rating of “Buy” from the twenty-four ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, twenty have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $131.60.

PFPT has been the subject of several research reports. Cowen reduced their price objective on Nordstrom from $44.00 to $36.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. KeyCorp increased their price objective on T-Mobile Us from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Monness Crespi & Hardt reissued a “buy” rating and issued a $137.00 price objective (up from $120.00) on shares of Proofpoint in a research report on Wednesday, April 17th. Deutsche Bank reduced their price objective on Xilinx from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. Finally, BidaskClub cut YY from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th.

Shares of PFPT traded up $1.33 during mid-day trading on Friday, hitting $125.22. The company’s stock had a trading volume of 332,614 shares, compared to its average volume of 535,483. Proofpoint has a one year low of $75.92 and a one year high of $131.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of -108.89 and a beta of 1.67. The business has a 50-day moving average of $115.02.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, April 25th. The software maker reported ($0.33) earnings per share for the quarter, meeting the consensus estimate of ($0.33). Proofpoint had a negative return on equity of 13.93% and a negative net margin of 15.82%. The company had revenue of $202.90 million during the quarter, compared to analysts’ expectations of $199.32 million. During the same period in the prior year, the business earned $0.30 earnings per share. Proofpoint’s revenue for the quarter was up 24.9% compared to the same quarter last year. Research analysts expect that Proofpoint will post -0.82 earnings per share for the current fiscal year.

In other Proofpoint news, CEO Gary Steele sold 20,000 shares of Proofpoint stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $108.87, for a total transaction of $2,177,400.00. Following the completion of the transaction, the chief executive officer now directly owns 120,005 shares of the company’s stock, valued at $13,064,944.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Darren Lee sold 2,615 shares of Proofpoint stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $107.83, for a total value of $281,975.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,885 shares of company stock valued at $17,078,213. 2.93% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. MML Investors Services LLC lifted its holdings in shares of Proofpoint by 0.9% during the fourth quarter. MML Investors Services LLC now owns 9,399 shares of the software maker’s stock valued at $788,000 after acquiring an additional 88 shares during the period. Swiss National Bank lifted its holdings in shares of Proofpoint by 9.8% during the first quarter. Swiss National Bank now owns 99,552 shares of the software maker’s stock valued at $12,089,000 after acquiring an additional 8,900 shares during the period. Washington Capital Management Inc. bought a new position in shares of Proofpoint during the first quarter valued at $528,000. Great West Life Assurance Co. Can lifted its holdings in shares of 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 valued at $480,000 after acquiring an additional 686 shares during the period. Finally, Coronation Fund Managers Ltd. bought a new position in shares of Proofpoint during the first quarter valued at $4,679,000. 95.14% of the stock is 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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