Trading Report: Today, Proofpoint Inc. (PFPT) Receives $80.87 Consensus PT from Analysts

Today, Proofpoint Inc. (PFPT) Receives $80.87 Consensus PT from Analysts

Proofpoint Inc. (NASDAQ:PFPT) has earned an average recommendation of “Buy” from the twenty-nine brokerages that are covering the stock. Two research analysts have rated the stock with a hold recommendation, twenty-five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $80.87.

A number of equities research analysts recently commented on the company. BTIG Research reaffirmed a “buy” rating and set a $32.00 target price on shares of Proofpoint in a report on Friday, October 21st. Needham & Company LLC assumed coverage on Proofpoint in a report on Monday, August 1st. They set a “buy” rating and a $88.00 target price for the company. Robert W. Baird assumed coverage on Proofpoint in a report on Monday, November 14th. They set an “outperform” rating and a $92.00 target price for the company. Rosenblatt Securities assumed coverage on Proofpoint in a report on Monday, August 1st. They set a “buy” rating and a $95.00 target price for the company. Finally, Wunderlich assumed coverage on Proofpoint in a report on Tuesday, September 13th. They set a “buy” rating and a $90.00 target price for the company.

Proofpoint (NASDAQ:PFPT) opened at 84.07 on Wednesday. Proofpoint has a 1-year low of $35.56 and a 1-year high of $88.00. The company’s market capitalization is $3.57 billion. The firm has a 50-day moving average price of $77.27 and a 200 day moving average price of $70.83.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, October 20th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. The business earned $99.80 million during the quarter, compared to the consensus estimate of $94.27 million. Proofpoint had a negative return on equity of 119.85% and a negative net margin of 34.83%. The company’s quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) earnings per share. On average, equities analysts predict that Proofpoint will post $0.32 EPS for the current year.

In other news, CEO Gary Steele sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $73.93, for a total value of $1,478,600.00. Following the completion of the sale, the chief executive officer now directly owns 34,629 shares in the company, valued at $2,560,121.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $85.15, for a total value of $425,750.00. Following the completion of the sale, the chairman now owns 121,215 shares of the company’s stock, valued at $10,321,457.25. The disclosure for this sale can be found here. 6.80% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. RS Investment Management Co. LLC boosted its stake in Proofpoint by 0.5% in the second quarter. RS Investment Management Co. LLC now owns 1,418,156 shares of the company’s stock worth $89,471,000 after buying an additional 7,597 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Proofpoint by 16.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 66,530 shares of the company’s stock worth $4,197,000 after buying an additional 9,530 shares during the period. Hood River Capital Management LLC boosted its stake in Proofpoint by 6.9% in the second quarter. Hood River Capital Management LLC now owns 341,156 shares of the company’s stock worth $21,524,000 after buying an additional 22,050 shares during the period. Falcon Point Capital LLC boosted its stake in Proofpoint by 28.4% in the second quarter. Falcon Point Capital LLC now owns 239,287 shares of the company’s stock worth $15,097,000 after buying an additional 52,903 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in Proofpoint during the second quarter worth approximately $1,060,000.

Related posts

Leave a Comment