Proofpoint Inc. (NASDAQ:PFPT) reached a new 52-week high during trading on Friday . The stock traded as high as $79.60 and last traded at $78.95, with a volume of 159,555 shares trading hands. The stock had previously closed at $78.19.

Several research firms have recently commented on PFPT. Deutsche Bank AG set a $80.00 target price on Proofpoint and gave the company a “buy” rating in a research note on Sunday, July 24th. Pacific Crest reissued a “buy” rating on shares of Proofpoint in a research note on Sunday, May 22nd. Zacks Investment Research cut Proofpoint from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Citigroup Inc. reissued a “buy” rating and issued a $62.00 target price on shares of Proofpoint in a research note on Monday, June 13th. Finally, Royal Bank Of Canada lifted their target price on Proofpoint from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 22nd. One analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $78.76.

The stock has a 50 day moving average of $74.02 and a 200-day moving average of $60.24. The company’s market cap is $3.32 billion.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.13. The business had revenue of $89.90 million for the quarter, compared to analyst estimates of $84.22 million. Equities research analysts expect that Proofpoint Inc. will post $0.09 EPS for the current fiscal year.

In other Proofpoint news, Director Dana L. Evan sold 1,500 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $74.16, for a total transaction of $111,240.00. Following the completion of the sale, the director now directly owns 8,993 shares in the company, valued at approximately $666,920.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert Darren Lee sold 2,000 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $68.99, for a total value of $137,980.00. Following the sale, the senior vice president now owns 94 shares of the company’s stock, valued at $6,485.06. The disclosure for this sale can be found here.

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.

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