Proofpoint Inc. (PFPT) Trading 4.2% Higher
Proofpoint Inc. (NASDAQ:PFPT)’s share price traded up 4.2% during mid-day trading on Friday . The stock traded as high as $68.23 and last traded at $67.36, with a volume of 588,815 shares trading hands. The stock had previously closed at $64.66.
Several equities analysts have recently issued reports on the stock. Wedbush reissued a “buy” rating and set a $78.00 price target (up previously from $77.00) on shares of Proofpoint in a report on Saturday, April 23rd. Piper Jaffray Cos. reissued a “buy” rating on shares of Proofpoint in a report on Saturday, April 23rd. Pacific Crest restated a “buy” rating on shares of Proofpoint in a research note on Sunday, May 22nd. Macquarie started coverage on shares of Proofpoint in a research note on Friday. They set an “outperform” rating and a $75.00 price objective on the stock. Finally, Imperial Capital lifted their price objective on shares of Proofpoint from $68.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, April 25th. Two analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $73.24.
The company’s 50 day moving average price is $60.92 and its 200 day moving average price is $55.14. The firm’s market capitalization is $2.82 billion.
Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, April 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. The business earned $79 million during the quarter, compared to the consensus estimate of $76.31 million. The firm’s revenue for the quarter was up 36.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, analysts anticipate that Proofpoint Inc. will post ($0.13) EPS for the current fiscal year.
In other Proofpoint news, EVP David Knight sold 2,000 shares of Proofpoint stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $63.52, for a total transaction of $127,040.00. Following the sale, the executive vice president now directly owns 7,889 shares of the company’s stock, valued at approximately $501,109.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony J. Bettencourt sold 12,500 shares of Proofpoint stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $57.05, for a total value of $713,125.00. Following the sale, the director now directly owns 22,612 shares in the company, valued at $1,290,014.60. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of PFPT. Penserra Capital Management LLC purchased a new stake in Proofpoint during the fourth quarter valued at $37,274,000. Zweig DiMenna Associates LLC purchased a new stake in Proofpoint during the fourth quarter valued at $21,434,000. Engineers Gate Manager LP purchased a new stake in Proofpoint during the fourth quarter valued at $4,522,000. State of Wisconsin Investment Board boosted its stake in Proofpoint by 51.4% in the fourth quarter. State of Wisconsin Investment Board now owns 147,322 shares of the company’s stock valued at $9,577,000 after buying an additional 50,000 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Proofpoint by 12.4% in the fourth quarter. Jennison Associates LLC now owns 422,129 shares of the company’s stock valued at $27,443,000 after buying an additional 46,580 shares during the last quarter.
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations around the world. The Company’s security-as-a-service platform consists of a suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.