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

PFPT has been the topic of a number of research analyst reports. Pacific Crest reissued a “buy” rating on shares of Proofpoint in a report on Sunday, May 22nd. Deutsche Bank AG set a $80.00 price target on shares of Proofpoint and gave the stock a “buy” rating in a report on Sunday, July 24th. Wedbush reissued a “buy” rating and issued a $78.00 price target on shares of Proofpoint in a report on Monday, July 11th. Stifel Nicolaus increased their price target on shares of Proofpoint from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, July 22nd. Finally, Wunderlich reissued a “buy” rating on shares of Proofpoint in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Proofpoint presently has a consensus rating of “Buy” and an average target price of $78.76.

The company has a 50 day moving average of $74.38 and a 200-day moving average of $60.37. The company’s market capitalization is $3.34 billion.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.13. The company had revenue of $89.90 million for the quarter, compared to the consensus estimate of $84.22 million. Equities analysts predict that Proofpoint Inc. will post $0.09 earnings per share for the current year.

In other news, Director Dana L. Evan sold 1,500 shares of Proofpoint stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $74.16, for a total transaction of $111,240.00. Following the sale, the director now owns 8,993 shares in the company, valued at $666,920.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gary Steele sold 20,000 shares of Proofpoint stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $63.85, for a total transaction of $1,277,000.00. Following the sale, the chief executive officer now owns 31,163 shares in the company, valued at approximately $1,989,757.55. 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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