Wedbush reiterated their outperform rating on shares of Proofpoint (NASDAQ:PFPT) in a research report sent to investors on Wednesday. Wedbush currently has a $114.00 price objective on the software maker’s stock, up from their previous price objective of $108.00. Wedbush also issued estimates for Proofpoint’s FY2019 earnings at ($0.59) EPS.

Several other research firms have also weighed in on PFPT. Deutsche Bank reaffirmed a buy rating and set a $114.00 price target on shares of Proofpoint in a research report on Tuesday, January 30th. Robert W. Baird reaffirmed a hold rating and set a $100.00 price target on shares of Proofpoint in a research report on Tuesday, November 7th. BidaskClub raised Proofpoint from a buy rating to a strong-buy rating in a research report on Friday, January 26th. Monness Crespi & Hardt initiated coverage on Proofpoint in a research report on Monday, October 16th. They set a buy rating and a $110.00 price target on the stock. Finally, Piper Jaffray Companies reaffirmed a buy rating and set a $112.00 price target on shares of Proofpoint in a research report on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Proofpoint presently has an average rating of Buy and an average target price of $107.63.

Shares of Proofpoint (PFPT) opened at $97.05 on Wednesday. Proofpoint has a 1 year low of $70.30 and a 1 year high of $104.62. The stock has a market capitalization of $4,550.00, a P/E ratio of -50.55 and a beta of 1.39. The company has a debt-to-equity ratio of 11.57, a current ratio of 1.51 and a quick ratio of 1.51.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.08. The firm had revenue of $145.40 million for the quarter, compared to analyst estimates of $139.61 million. Proofpoint had a negative return on equity of 131.99% and a negative net margin of 16.37%. The business’s quarterly revenue was up 36.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. equities analysts expect that Proofpoint will post -0.68 earnings per share for the current year.

In related news, EVP David Knight sold 3,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $88.99, for a total value of $266,970.00. Following the completion of the sale, the executive vice president now directly owns 16,874 shares in the company, valued at approximately $1,501,617.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $83.71, for a total value of $418,550.00. Following the completion of the sale, the chairman now owns 38,201 shares of the company’s stock, valued at $3,197,805.71. The disclosure for this sale can be found here. Insiders have sold a total of 165,549 shares of company stock valued at $14,900,426 over the last quarter. 5.96% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFPT. Prudential Financial Inc. boosted its stake in Proofpoint by 19.3% in the 2nd quarter. Prudential Financial Inc. now owns 5,058 shares of the software maker’s stock valued at $439,000 after purchasing an additional 818 shares during the period. Principal Financial Group Inc. lifted its position in shares of Proofpoint by 3.8% during the 2nd quarter. Principal Financial Group Inc. now owns 5,976 shares of the software maker’s stock valued at $519,000 after acquiring an additional 216 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Proofpoint by 5.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,902 shares of the software maker’s stock valued at $339,000 after acquiring an additional 200 shares during the period. 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 acquiring an additional 431 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Proofpoint by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,392,578 shares of the software maker’s stock valued at $294,577,000 after acquiring an additional 77,721 shares during the period.

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About Proofpoint

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.

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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