Proofpoint (NASDAQ:PFPT) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday, May 31st.
Several other equities research analysts have also commented on PFPT. Citigroup boosted their price objective on shares of Proofpoint from $140.00 to $144.00 and gave the stock a “buy” rating in a research note on Monday, April 30th. Evercore ISI reissued a “buy” rating and set a $135.00 price objective on shares of Proofpoint in a research note on Wednesday, May 30th. TheStreet upgraded shares of Proofpoint from a “d” rating to a “c-” rating in a research note on Wednesday, February 7th. Zacks Investment Research upgraded shares of Proofpoint from a “sell” rating to a “hold” rating in a research note on Monday, April 30th. Finally, ValuEngine upgraded shares of Proofpoint from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Proofpoint presently has a consensus rating of “Buy” and a consensus price target of $125.05.
Shares of NASDAQ PFPT traded up $1.39 during midday trading on Thursday, hitting $126.52. 567,500 shares of the company traded hands, compared to its average volume of 589,547. Proofpoint has a 12-month low of $82.61 and a 12-month high of $130.27. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $6.18 billion, a P/E ratio of -96.92 and a beta of 1.15.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, April 26th. The software maker reported $0.30 EPS for the quarter, topping the consensus estimate of $0.15 by $0.15. Proofpoint had a negative net margin of 12.58% and a negative return on equity of 21.55%. The business had revenue of $162.50 million for the quarter, compared to analyst estimates of $151.86 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Proofpoint’s quarterly revenue was up 40.6% on a year-over-year basis. research analysts anticipate that Proofpoint will post -1.12 earnings per share for the current year.
In other news, EVP Bhagwat Swaroop sold 1,000 shares of the stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $125.61, for a total value of $125,610.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $113.64, for a total transaction of $568,200.00. Following the completion of the sale, the chairman now directly owns 18,401 shares of the company’s stock, valued at $2,091,089.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,788 shares of company stock valued at $2,245,992. 3.37% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Stratos Wealth Partners LTD. increased its stake in shares of Proofpoint by 4,395.0% in the first quarter. Stratos Wealth Partners LTD. now owns 899 shares of the software maker’s stock worth $102,000 after purchasing an additional 879 shares in the last quarter. Exane Derivatives boosted its position in shares of Proofpoint by 901.8% during the fourth quarter. Exane Derivatives now owns 1,713 shares of the software maker’s stock worth $152,000 after acquiring an additional 1,542 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Proofpoint during the first quarter worth $216,000. Optimum Investment Advisors bought a new position in shares of Proofpoint during the first quarter worth $227,000. Finally, Sigma Planning Corp bought a new position in shares of Proofpoint during the fourth quarter worth $238,000.
Proofpoint Company Profile
Proofpoint, Inc operates as a security-as-a-service (SaaS) 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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