Proofpoint (PFPT) Earns “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Proofpoint (NASDAQ:PFPT) in a research report released on Friday, 24/7 WallStreet reports. Wedbush currently has a $130.00 price objective on the software maker’s stock.

PFPT has been the subject of a number of other reports. Zacks Investment Research lowered shares of Proofpoint from a hold rating to a sell rating in a research note on Thursday, January 10th. BidaskClub upgraded shares of Proofpoint from a hold rating to a buy rating in a research note on Tuesday, January 29th. Monness Crespi & Hardt lifted their price target on shares of Proofpoint from $115.00 to $120.00 and gave the stock a buy rating in a research note on Friday, February 1st. Citigroup lifted their price target on shares of Proofpoint to $117.00 and gave the stock a buy rating in a research note on Monday, February 4th. Finally, ValuEngine upgraded shares of Proofpoint from a buy rating to a strong-buy rating in a research note on Saturday, February 2nd. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $126.68.

NASDAQ:PFPT opened at $122.90 on Friday. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of -106.87 and a beta of 1.83. Proofpoint has a fifty-two week low of $75.92 and a fifty-two week high of $130.27.



Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Thursday, January 31st. The software maker reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.15. The business had revenue of $198.48 million during the quarter, compared to analyst estimates of $192.92 million. Proofpoint had a negative net margin of 14.47% and a negative return on equity of 12.20%. On average, equities research analysts predict that Proofpoint will post -1.18 earnings per share for the current year.

In related news, Director Richard Scott Herren sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $117.00, for a total value of $374,400.00. Following the transaction, the director now owns 13,228 shares of the company’s stock, valued at $1,547,676. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert Darren Lee sold 8,031 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $114.43, for a total transaction of $918,987.33. Following the completion of the transaction, the senior vice president now directly owns 6,698 shares in the company, valued at approximately $766,452.14. The disclosure for this sale can be found here. In the last three months, insiders sold 102,958 shares of company stock worth $12,333,570. 3.37% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. MML Investors Services LLC boosted its holdings in shares of Proofpoint by 0.9% in the fourth quarter. MML Investors Services LLC now owns 9,399 shares of the software maker’s stock worth $788,000 after buying an additional 88 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Proofpoint by 47.0% during the third quarter. Nordea Investment Management AB now owns 38,848 shares of the software maker’s stock valued at $4,130,000 after purchasing an additional 12,420 shares in the last quarter. Thornburg Investment Management Inc. lifted its holdings in Proofpoint by 90.4% during the fourth quarter. Thornburg Investment Management Inc. now owns 123,938 shares of the software maker’s stock valued at $10,387,000 after purchasing an additional 58,838 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Proofpoint by 13.1% during the fourth quarter. Great West Life Assurance Co. Can now owns 5,933 shares of the software maker’s stock valued at $480,000 after purchasing an additional 686 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning lifted its holdings in Proofpoint by 19.9% during the fourth quarter. Handelsinvest Investeringsforvaltning now owns 41,248 shares of the software maker’s stock valued at $3,457,000 after purchasing an additional 6,848 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors.

About Proofpoint

Proofpoint, Inc operates as a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent ‘drive-by' downloads, malicious Web links, hybrid threats, malware free attacks, and other penetration tactics.

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Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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