Proofpoint (NASDAQ:PFPT) Lifted to “Hold” at BidaskClub

Share on StockTwits

BidaskClub upgraded shares of Proofpoint (NASDAQ:PFPT) from a sell rating to a hold rating in a research report released on Saturday, BidAskClub reports.

Several other equities research analysts have also issued reports on PFPT. Citigroup lifted their price target on Proofpoint from $147.00 to $166.00 and gave the stock a buy rating in a research note on Friday, May 8th. First Analysis raised Proofpoint from an outperform rating to a strong-buy rating and set a $143.00 price target for the company in a research note on Wednesday, March 4th. Wedbush lifted their price target on Proofpoint from $135.00 to $150.00 and gave the stock an outperform rating in a research note on Friday, May 8th. Royal Bank of Canada lifted their price target on Proofpoint from $141.00 to $146.00 and gave the stock an outperform rating in a research note on Friday, May 8th. Finally, Morgan Stanley lifted their price target on Proofpoint from $108.00 to $116.00 and gave the stock an equal weight rating in a research note on Wednesday, May 13th. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $140.73.

NASDAQ:PFPT opened at $111.12 on Friday. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of -35.62 and a beta of 1.37. Proofpoint has a 52-week low of $83.81 and a 52-week high of $133.58. The stock has a fifty day moving average of $112.20 and a 200 day moving average of $115.33. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.61 and a current ratio of 1.61.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.11. The company had revenue of $249.77 million during the quarter, compared to analyst estimates of $245.52 million. Proofpoint had a negative return on equity of 10.15% and a negative net margin of 18.85%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. Equities analysts forecast that Proofpoint will post -1.04 earnings per share for the current fiscal year.

In related news, CEO Gary Steele sold 20,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $108.88, for a total transaction of $2,177,600.00. Following the transaction, the chief executive officer now owns 105,954 shares in the company, valued at approximately $11,536,271.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Knight sold 2,500 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $109.81, for a total value of $274,525.00. Following the transaction, the executive vice president now owns 17,329 shares in the company, valued at approximately $1,902,897.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,991 shares of company stock worth $5,701,662. 2.38% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new position in shares of Proofpoint during the 1st quarter worth approximately $24,214,000. Credit Suisse AG grew its holdings in shares of Proofpoint by 11.5% during the 4th quarter. Credit Suisse AG now owns 385,381 shares of the software maker’s stock worth $44,234,000 after acquiring an additional 39,875 shares during the period. Jennison Associates LLC grew its holdings in shares of Proofpoint by 0.7% during the 1st quarter. Jennison Associates LLC now owns 603,515 shares of the software maker’s stock worth $61,915,000 after acquiring an additional 4,456 shares during the period. Swiss National Bank grew its holdings in shares of Proofpoint by 2.0% during the 1st quarter. Swiss National Bank now owns 109,452 shares of the software maker’s stock worth $11,229,000 after acquiring an additional 2,100 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Proofpoint by 343.9% during the 1st quarter. Baird Financial Group Inc. now owns 12,437 shares of the software maker’s stock worth $1,276,000 after acquiring an additional 9,635 shares during the period. Hedge funds and other institutional investors own 94.63% of the company’s stock.

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.

Featured Story: Put Option

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

Receive News & Ratings for Proofpoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint and related companies with MarketBeat.com's FREE daily email newsletter.