Shares of Proofpoint Inc (NASDAQ:PFPT) have earned an average recommendation of “Buy” from the twenty-eight analysts that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $130.05.

PFPT has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Proofpoint from $135.00 to $139.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. 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. BidaskClub raised shares of Proofpoint from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. Zacks Investment Research lowered shares of Proofpoint from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Finally, Wedbush restated an “outperform” rating and set a $136.00 target price on shares of Proofpoint in a report on Tuesday, May 15th.

Proofpoint stock traded down $0.13 during midday trading on Friday, hitting $116.89. 831,566 shares of the stock were exchanged, compared to its average volume of 802,891. Proofpoint has a 52 week low of $82.61 and a 52 week high of $130.27. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of -89.23 and a beta of 1.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.65 and a quick ratio of 0.65.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, July 26th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.09. Proofpoint had a negative net margin of 12.93% and a negative return on equity of 16.48%. The business had revenue of $171.90 million for the quarter, compared to analyst estimates of $169.46 million. During the same quarter last year, the firm earned $0.17 EPS. Proofpoint’s quarterly revenue was up 40.6% compared to the same quarter last year. analysts predict that Proofpoint will post -1.18 EPS for the current fiscal year.

In other news, CEO Gary Steele sold 100,000 shares of Proofpoint stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $62.54, for a total value of $6,254,000.00. Following the sale, the chief executive officer now directly owns 121,074 shares in the company, valued at $7,571,967.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of Proofpoint stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $124.65, for a total transaction of $623,250.00. Following the completion of the sale, the chairman now owns 8,001 shares in the company, valued at $997,324.65. The disclosure for this sale can be found here. Insiders have sold a total of 342,174 shares of company stock worth $34,981,325 over the last 90 days. Corporate insiders own 5.96% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in shares of Proofpoint by 13.6% in the second quarter. Janney Montgomery Scott LLC now owns 11,463 shares of the software maker’s stock valued at $1,322,000 after purchasing an additional 1,375 shares during the last quarter. Oak Ridge Investments LLC acquired a new stake in shares of Proofpoint in the second quarter valued at approximately $3,037,000. American Century Companies Inc. acquired a new stake in shares of Proofpoint in the first quarter valued at approximately $370,000. Fred Alger Management Inc. raised its holdings in shares of Proofpoint by 13.8% in the second quarter. Fred Alger Management Inc. now owns 499,196 shares of the software maker’s stock valued at $57,562,000 after purchasing an additional 60,681 shares during the last quarter. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of Proofpoint in the first quarter valued at approximately $123,305,000. Institutional investors own 95.16% of the company’s stock.

About Proofpoint

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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Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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