Proofpoint (NASDAQ:PFPT) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, September 20th.
Other analysts have also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Proofpoint in a research report on Friday, July 27th. Stifel Nicolaus upped their price target on Proofpoint to $130.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Monness Crespi & Hardt upped their price target on Proofpoint from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Royal Bank of Canada restated a “buy” rating and issued a $140.00 price target on shares of Proofpoint in a research report on Friday, July 27th. Finally, ValuEngine cut Proofpoint from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 18th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $132.00.
PFPT traded up $4.60 during midday trading on Thursday, reaching $101.06. The company had a trading volume of 1,449,123 shares, compared to its average volume of 762,174. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -77.15 and a beta of 1.25. Proofpoint has a 1 year low of $82.61 and a 1 year high of $130.27.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 26th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $171.90 million during the quarter, compared to analysts’ expectations of $169.46 million. Proofpoint had a negative return on equity of 16.48% and a negative net margin of 12.93%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. On average, equities analysts anticipate that Proofpoint will post -1.18 earnings per share for the current fiscal year.
In other Proofpoint news, CEO Gary Steele sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $98.64, for a total transaction of $4,932,000.00. Following the completion of the transaction, the chief executive officer now owns 154,960 shares in the company, valued at approximately $15,285,254.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul R. Auvil III sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $113.70, for a total value of $4,548,000.00. Following the transaction, the chief financial officer now owns 79,528 shares of the company’s stock, valued at approximately $9,042,333.60. The disclosure for this sale can be found here. Insiders have sold a total of 288,560 shares of company stock valued at $27,215,422 in the last 90 days. 3.37% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of PFPT. Whale Rock Capital Management LLC bought a new stake in shares of Proofpoint in the 1st quarter valued at approximately $123,305,000. Atlantic Trust Group LLC lifted its stake in shares of Proofpoint by 2,735.3% in the 1st quarter. Atlantic Trust Group LLC now owns 543,178 shares of the software maker’s stock valued at $61,732,000 after purchasing an additional 524,020 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Proofpoint by 73.3% in the 2nd quarter. Jennison Associates LLC now owns 575,544 shares of the software maker’s stock valued at $66,366,000 after purchasing an additional 243,380 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Proofpoint by 843.3% in the 1st quarter. Legal & General Group Plc now owns 194,464 shares of the software maker’s stock valued at $22,101,000 after purchasing an additional 173,849 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Proofpoint by 111.5% in the 2nd quarter. Millennium Management LLC now owns 297,601 shares of the software maker’s stock valued at $34,316,000 after purchasing an additional 156,908 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.
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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