KeyCorp Reaffirms “Hold” Rating for Proofpoint, Inc. (PFPT)
Proofpoint, Inc. (NASDAQ:PFPT)‘s stock had its “hold” rating reissued by equities research analysts at KeyCorp in a report issued on Tuesday.
Several other research firms have also recently commented on PFPT. Needham & Company LLC assumed coverage on Proofpoint in a research report on Friday, July 21st. They set a “buy” rating and a $115.00 price objective on the stock. Zacks Investment Research raised Proofpoint from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Tuesday, August 1st. Deutsche Bank AG increased their price objective on Proofpoint from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 8th. BTIG Research reaffirmed a “buy” rating and set a $110.00 price objective on shares of Proofpoint in a research report on Monday, September 11th. Finally, FBN Securities assumed coverage on Proofpoint in a research report on Monday, May 22nd. They set an “outperform” rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Proofpoint presently has a consensus rating of “Buy” and an average price target of $98.91.
Proofpoint (PFPT) traded up 0.702% during trading on Tuesday, reaching $91.055. 175,963 shares of the company’s stock were exchanged. The stock’s market cap is $4.05 billion. The firm has a 50 day moving average of $88.95 and a 200-day moving average of $84.13. Proofpoint has a 12 month low of $68.04 and a 12 month high of $97.00.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. The firm had revenue of $122.30 million during the quarter, compared to the consensus estimate of $119.58 million. During the same period last year, the company earned $0.06 earnings per share. The company’s revenue was up 36.0% on a year-over-year basis. On average, equities research analysts anticipate that Proofpoint will post $0.65 earnings per share for the current fiscal year.
In other news, EVP Bhagwat Swaroop sold 5,000 shares of Proofpoint stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $85.17, for a total transaction of $425,850.00. Following the transaction, the executive vice president now directly owns 13,161 shares of the company’s stock, valued at approximately $1,120,922.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $87.11, for a total value of $3,484,400.00. Following the transaction, the chief executive officer now directly owns 88,551 shares in the company, valued at $7,713,677.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,366 shares of company stock worth $14,351,274. Insiders own 6.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of PFPT. D.A. Davidson & CO. lifted its position in shares of Proofpoint by 57.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after buying an additional 431 shares in the last quarter. Fortaleza Asset Management Inc. lifted its position in shares of Proofpoint by 22.4% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 1,696 shares of the software maker’s stock valued at $147,000 after buying an additional 310 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Proofpoint by 400.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock valued at $185,000 after buying an additional 2,000 shares in the last quarter. Creative Planning lifted its position in shares of Proofpoint by 7.4% during the 2nd quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after buying an additional 154 shares in the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Proofpoint during the 2nd quarter valued at about $204,000.
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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