Proofpoint Inc (PFPT) Given Buy Rating at Deutsche Bank AG
Deutsche Bank AG reaffirmed their buy rating on shares of Proofpoint Inc (NASDAQ:PFPT) in a research note issued to investors on Sunday. The firm currently has a $90.00 price target on the software maker’s stock, up from their previous price target of $85.00.
PFPT has been the subject of several other reports. Wunderlich reissued a buy rating and set a $93.00 price objective (up from $90.00) on shares of Proofpoint in a report on Sunday, January 29th. Goldman Sachs Group Inc lowered shares of Proofpoint from a neutral rating to a sell rating and set a $69.00 price target for the company. in a research report on Thursday, March 23rd. BTIG Research reiterated a buy rating on shares of Proofpoint in a research report on Tuesday, January 24th. Zacks Investment Research upgraded shares of Proofpoint from a sell rating to a hold rating in a research report on Friday, January 27th. Finally, DA Davidson reiterated a neutral rating and issued a $79.00 price target on shares of Proofpoint in a research report on Tuesday, January 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $84.55.
Proofpoint (NASDAQ:PFPT) traded up 9.37% during midday trading on Friday, hitting $77.65. 4,450,396 shares of the company were exchanged. The firm’s market capitalization is $3.39 billion. Proofpoint has a 1-year low of $52.05 and a 1-year high of $88.00. The stock has a 50 day moving average of $76.58 and a 200 day moving average of $77.12.
Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, April 20th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. Proofpoint had a negative net margin of 29.62% and a negative return on equity of 110.22%. The firm earned $113.30 million during the quarter, compared to analysts’ expectations of $110.60 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The firm’s quarterly revenue was up 43.4% on a year-over-year basis. On average, equities analysts predict that Proofpoint will post $0.52 earnings per share for the current fiscal year.
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In other news, EVP David Knight sold 3,000 shares of the stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $75.38, for a total value of $226,140.00. Following the sale, the executive vice president now owns 12,642 shares of the company’s stock, valued at $952,953.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Tracey Newell sold 3,645 shares of the stock in a transaction on Friday, February 17th. The shares were sold at an average price of $81.19, for a total transaction of $295,937.55. Following the completion of the sale, the executive vice president now directly owns 37,513 shares in the company, valued at approximately $3,045,680.47. The disclosure for this sale can be found here. In the last three months, insiders sold 139,011 shares of company stock worth $10,819,257. Insiders own 6.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new position in Proofpoint during the first quarter valued at approximately $416,000. Alpha Windward LLC increased its position in Proofpoint by 9.4% in the first quarter. Alpha Windward LLC now owns 6,282 shares of the software maker’s stock valued at $467,000 after buying an additional 540 shares in the last quarter. Daiwa SB Investments Ltd. increased its position in Proofpoint by 14.3% in the first quarter. Daiwa SB Investments Ltd. now owns 9,940 shares of the software maker’s stock valued at $739,000 after buying an additional 1,240 shares in the last quarter. Macquarie Group Ltd. increased its position in Proofpoint by 17.0% in the fourth quarter. Macquarie Group Ltd. now owns 852,205 shares of the software maker’s stock valued at $60,208,000 after buying an additional 123,655 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in Proofpoint by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 290,750 shares of the software maker’s stock valued at $20,541,000 after buying an additional 1,802 shares in the last quarter.
Proofpoint Company Profile
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
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