Proofpoint (NASDAQ:PFPT) Cut to “Hold” at BidaskClub

BidaskClub cut shares of Proofpoint (NASDAQ:PFPT) from a buy rating to a hold rating in a research report report published on Saturday, BidAskClub reports.

A number of other equities analysts have also weighed in on PFPT. Mizuho lifted their price objective on Proofpoint from $120.00 to $128.00 and gave the company a neutral rating in a research note on Friday, July 26th. ValuEngine lowered Proofpoint from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Needham & Company LLC lifted their price objective on Proofpoint from $135.00 to $150.00 and gave the company a buy rating in a research note on Friday, July 26th. Monness Crespi & Hardt reiterated a buy rating and set a $150.00 price objective (up previously from $137.00) on shares of Proofpoint in a research note on Friday, July 26th. Finally, Stifel Nicolaus lifted their price objective on Proofpoint from $135.00 to $140.00 and gave the company a buy rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $139.08.

Shares of PFPT stock opened at $119.81 on Friday. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of -104.18 and a beta of 1.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.67 and a quick ratio of 0.66. The business has a fifty day moving average of $125.74 and a 200 day moving average of $120.68. Proofpoint has a 1 year low of $75.92 and a 1 year high of $133.58.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, July 25th. The software maker reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.07). The firm had revenue of $214.40 million during the quarter, compared to analysts’ expectations of $211.33 million. Proofpoint had a negative return on equity of 11.24% and a negative net margin of 14.31%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the business earned $0.26 EPS. As a group, equities research analysts expect that Proofpoint will post -0.8 earnings per share for the current year.

In other news, EVP David Knight sold 2,500 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $128.03, for a total transaction of $320,075.00. Following the sale, the executive vice president now directly owns 7,328 shares in the company, valued at approximately $938,203.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary Steele sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $130.74, for a total value of $2,614,800.00. Following the sale, the chief executive officer now owns 95,148 shares in the company, valued at $12,439,649.52. The disclosure for this sale can be found here. Insiders have sold a total of 71,544 shares of company stock worth $8,861,107 over the last 90 days. Insiders own 2.93% of the company’s stock.

Large investors have recently bought and sold shares of the company. Court Place Advisors LLC raised its position in shares of Proofpoint by 12.4% during the 3rd quarter. Court Place Advisors LLC now owns 1,990 shares of the software maker’s stock valued at $257,000 after buying an additional 220 shares during the period. Virginia Retirement Systems ET AL raised its position in shares of Proofpoint by 205.9% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 5,200 shares of the software maker’s stock valued at $671,000 after buying an additional 3,500 shares during the period. Brinker Capital Inc. raised its position in shares of Proofpoint by 2.6% during the 3rd quarter. Brinker Capital Inc. now owns 6,655 shares of the software maker’s stock valued at $859,000 after buying an additional 166 shares during the period. Strs Ohio raised its position in shares of Proofpoint by 2,163.1% during the 3rd quarter. Strs Ohio now owns 42,116 shares of the software maker’s stock valued at $5,435,000 after buying an additional 40,255 shares during the period. Finally, Fulton Breakefield Broenniman LLC purchased a new stake in shares of Proofpoint during the 3rd quarter valued at approximately $318,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Proofpoint Company Profile

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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