Proofpoint’s (PFPT) “Neutral” Rating Reiterated at DA Davidson


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DA Davidson reiterated their neutral rating on shares of Proofpoint (NASDAQ:PFPT) in a research note published on Monday morning, Benzinga reports. DA Davidson currently has a $176.00 target price on the software maker’s stock, up from their previous target price of $160.00.

Several other equities research analysts also recently commented on PFPT. Stephens began coverage on shares of Proofpoint in a research note on Monday, February 1st. They issued an overweight rating and a $165.00 target price on the stock. Royal Bank of Canada cut Proofpoint from an outperform rating to a sector perform rating in a research note on Monday, April 26th. JMP Securities increased their price objective on Proofpoint from $157.00 to $190.00 and gave the stock a market outperform rating in a research report on Tuesday, April 27th. William Blair cut Proofpoint from an outperform rating to a market perform rating in a research report on Monday, April 26th. Finally, Summit Insights upgraded Proofpoint from a hold rating to a buy rating and set a $165.00 price target on the stock in a research report on Monday, April 26th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $156.47.

Shares of PFPT stock opened at $172.01 on Monday. Proofpoint has a 1 year low of $91.60 and a 1 year high of $174.25. The firm’s fifty day simple moving average is $136.11 and its 200 day simple moving average is $124.36. The firm has a market capitalization of $9.87 billion, a P/E ratio of -62.55 and a beta of 1.25. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.35.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Sunday, April 25th. The software maker reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.09. Proofpoint had a negative net margin of 15.46% and a negative return on equity of 6.63%. The firm had revenue of $287.30 million for the quarter, compared to the consensus estimate of $281.63 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that Proofpoint will post -0.52 EPS for the current fiscal year.

In related news, EVP Robert Darren Lee sold 2,317 shares of Proofpoint stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $123.54, for a total transaction of $286,242.18. Following the completion of the sale, the executive vice president now owns 4,634 shares of the company’s stock, valued at $572,484.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Knight sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 6th. The shares were sold at an average price of $129.67, for a total value of $324,175.00. Following the completion of the sale, the executive vice president now owns 17,365 shares of the company’s stock, valued at $2,251,719.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,817 shares of company stock worth $1,904,117. 2.93% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFPT. IFP Advisors Inc raised its holdings in shares of Proofpoint by 48.1% in the 1st quarter. IFP Advisors Inc now owns 1,540 shares of the software maker’s stock valued at $193,000 after buying an additional 500 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Proofpoint by 49.8% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 141,100 shares of the software maker’s stock valued at $17,749,000 after acquiring an additional 46,900 shares during the last quarter. Mirador Capital Partners LP increased its holdings in shares of Proofpoint by 49.3% in the 1st quarter. Mirador Capital Partners LP now owns 51,740 shares of the software maker’s stock valued at $6,508,000 after acquiring an additional 17,078 shares during the last quarter. Spearhead Capital Advisors LLC boosted its position in shares of Proofpoint by 56.7% in the 1st quarter. Spearhead Capital Advisors LLC now owns 2,964 shares of the software maker’s stock valued at $373,000 after purchasing an additional 1,073 shares during the period. Finally, US Bancorp DE boosted its position in shares of Proofpoint by 32.2% in the 1st quarter. US Bancorp DE now owns 40,159 shares of the software maker’s stock valued at $5,051,000 after purchasing an additional 9,788 shares during the period. 92.75% of the stock is currently owned by institutional investors.

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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