Proofpoint (NASDAQ:PFPT) Given New $117.00 Price Target at Citigroup

Proofpoint (NASDAQ:PFPT) had its price objective increased by Citigroup to $117.00 in a research note published on Monday, February 4th, The Fly reports. Citigroup currently has a buy rating on the software maker’s stock.

Several other analysts have also recently commented on PFPT. Zacks Investment Research raised shares of Proofpoint from a hold rating to a buy rating and set a $90.00 target price for the company in a research note on Monday, December 31st. JMP Securities decreased their price target on shares of Proofpoint from $145.00 to $115.00 and set an outperform rating on the stock in a report on Friday, October 26th. BidaskClub upgraded shares of Proofpoint from a sell rating to a hold rating in a report on Friday, October 12th. Monness Crespi & Hardt decreased their price target on shares of Proofpoint from $140.00 to $115.00 and set a buy rating on the stock in a report on Friday, October 26th. Finally, Guggenheim assumed coverage on shares of Proofpoint in a report on Monday, December 10th. They issued a buy rating and a $110.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $124.43.

Shares of PFPT traded up $0.06 during mid-day trading on Monday, reaching $118.15. 414,081 shares of the company’s stock were exchanged, compared to its average volume of 752,633. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -102.74 and a beta of 1.76. Proofpoint has a 52-week low of $75.92 and a 52-week high of $130.27.

Proofpoint (NASDAQ:PFPT) last released its earnings results on Thursday, January 31st. The software maker reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.15. The firm had revenue of $198.48 million during the quarter, compared to analysts’ expectations of $192.92 million. Proofpoint had a negative net margin of 14.47% and a negative return on equity of 13.40%. On average, equities analysts expect that Proofpoint will post -1.18 earnings per share for the current year.

In related news, CEO Gary Steele sold 50,000 shares of the business’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the completion of the sale, the chief executive officer now owns 152,577 shares of the company’s stock, valued at approximately $14,494,815. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bhagwat Swaroop sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $118.09, for a total transaction of $118,090.00. Following the completion of the transaction, the executive vice president now owns 3,451 shares of the company’s stock, valued at approximately $407,528.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,731 shares of company stock valued at $6,313,622. Insiders own 3.37% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Proofpoint by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 86,500 shares of the software maker’s stock worth $7,251,000 after purchasing an additional 3,269 shares during the last quarter. FMR LLC grew its position in Proofpoint by 9.5% in the 4th quarter. FMR LLC now owns 1,661,727 shares of the software maker’s stock worth $139,269,000 after purchasing an additional 144,796 shares during the last quarter. Nordea Investment Management AB grew its position in Proofpoint by 17.6% in the 4th quarter. Nordea Investment Management AB now owns 45,688 shares of the software maker’s stock worth $3,830,000 after purchasing an additional 6,840 shares during the last quarter. Amalgamated Bank grew its position in Proofpoint by 63.0% in the 4th quarter. Amalgamated Bank now owns 11,259 shares of the software maker’s stock worth $944,000 after purchasing an additional 4,352 shares during the last quarter. Finally, Millennium Management LLC grew its position in Proofpoint by 0.8% in the 4th quarter. Millennium Management LLC now owns 608,634 shares of the software maker’s stock worth $51,010,000 after purchasing an additional 4,714 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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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