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

Shares of Proofpoint Inc (NASDAQ:PFPT) have received a consensus rating of “Buy” from the twenty-five ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $138.18.

PFPT has been the topic of a number of research reports. Bank of America initiated coverage on Proofpoint in a research report on Friday, April 12th. They set a “buy” rating and a $155.00 price objective on the stock. Piper Jaffray Companies boosted their price objective on Proofpoint from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Evercore ISI set a $150.00 price objective on Proofpoint and gave the stock a “buy” rating in a research report on Friday, July 26th. Dougherty & Co restated a “buy” rating and set a $140.00 price objective (up previously from $115.00) on shares of Proofpoint in a research report on Friday, April 26th. Finally, Robert W. Baird restated a “buy” rating on shares of Proofpoint in a research report on Friday, April 26th.

In other news, CEO Gary Steele sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $123.79, for a total value of $2,475,800.00. Following the transaction, the chief executive officer now directly owns 100,574 shares of the company’s stock, valued at approximately $12,450,055.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Darren Lee sold 2,615 shares of the business’s stock in a transaction dated 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. Insiders sold a total of 112,885 shares of company stock worth $13,399,913 in the last quarter. Corporate insiders own 2.93% of the company’s stock.

Large investors have recently made changes to their positions in the company. Swiss National Bank raised its stake in Proofpoint by 9.8% during the 1st quarter. Swiss National Bank now owns 99,552 shares of the software maker’s stock worth $12,089,000 after buying an additional 8,900 shares during the period. Washington Capital Management Inc. acquired a new position in Proofpoint during the 1st quarter worth approximately $528,000. Great West Life Assurance Co. Can raised its stake in Proofpoint by 13.1% during the 4th 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 period. Coronation Fund Managers Ltd. acquired a new position in Proofpoint during the 1st quarter worth approximately $4,679,000. Finally, Alpha Windward LLC acquired a new position in Proofpoint during the 1st quarter worth approximately $474,000. 95.16% of the stock is currently owned by institutional investors.

PFPT stock traded down $4.95 during midday trading on Wednesday, reaching $118.97. 10,250 shares of the stock were exchanged, compared to its average volume of 518,655. The company has a market cap of $6.95 billion, a PE ratio of -103.63 and a beta of 1.66. Proofpoint has a 52 week low of $75.92 and a 52 week high of $132.85. The company has a quick ratio of 0.79, a current ratio of 0.67 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average of $121.28.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.07). The firm had revenue of $214.40 million for the quarter, compared to the consensus estimate of $211.33 million. Proofpoint had a negative return on equity of 11.24% and a negative net margin of 14.31%. The company’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, sell-side analysts expect that Proofpoint will post -0.77 EPS for the current year.

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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