A number of other analysts have also recently weighed in on the stock. Needham & Company LLC restated a buy rating and issued a $150.00 price objective on shares of Proofpoint in a research note on Monday, October 21st. Evercore ISI reissued a buy rating and set a $150.00 target price on shares of Proofpoint in a research report on Wednesday, October 23rd. Morgan Stanley lowered shares of Proofpoint from an overweight rating to an equal weight rating and cut their target price for the stock from $146.00 to $137.00 in a research report on Monday, January 13th. Cowen restated a buy rating and set a $135.00 price target on shares of Proofpoint in a report on Tuesday, December 17th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $145.00 price target on shares of Proofpoint in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $142.87.
Shares of Proofpoint stock opened at $123.26 on Friday. The stock has a market cap of $6.91 billion, a PE ratio of -55.77 and a beta of 1.60. The business has a fifty day simple moving average of $117.54 and a 200-day simple moving average of $120.69. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.31. Proofpoint has a 12 month low of $91.95 and a 12 month high of $133.58.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $224.32 million. Proofpoint had a negative return on equity of 10.85% and a negative net margin of 14.56%. Proofpoint’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. Analysts expect that Proofpoint will post -0.65 EPS for the current fiscal year.
In other news, EVP David Knight sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $118.11, for a total value of $295,275.00. Following the sale, the executive vice president now owns 7,328 shares of the company’s stock, valued at approximately $865,510.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Bhagwat Swaroop sold 5,000 shares of Proofpoint stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $125.00, for a total transaction of $625,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,479 shares of company stock valued at $7,908,841. Corporate insiders own 2.93% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFPT. Nuveen Asset Management LLC acquired a new position in shares of Proofpoint during the second quarter valued at $206,297,000. BlackRock Inc. lifted its stake in Proofpoint by 9.8% in the second quarter. BlackRock Inc. now owns 2,685,991 shares of the software maker’s stock valued at $322,991,000 after buying an additional 240,427 shares during the period. Point72 Asset Management L.P. lifted its stake in Proofpoint by 21,856.5% in the third quarter. Point72 Asset Management L.P. now owns 175,652 shares of the software maker’s stock valued at $22,668,000 after buying an additional 174,852 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Proofpoint by 1.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,258,637 shares of the software maker’s stock worth $993,101,000 after buying an additional 143,412 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in Proofpoint by 17.0% during the second quarter. Pictet Asset Management Ltd. now owns 927,500 shares of the software maker’s stock worth $111,532,000 after buying an additional 135,000 shares during the last quarter. 97.99% 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.
Further Reading: Relative Strength Index
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