Proofpoint’s (PFPT) “Buy” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their buy rating on shares of Proofpoint (NASDAQ:PFPT) in a report issued on Wednesday morning, AnalystRatings.com reports. They currently have a $141.00 price objective on the software maker’s stock.

A number of other research analysts also recently issued reports on the company. First Analysis upgraded Proofpoint from an outperform rating to a strong-buy rating and set a $143.00 price objective for the company in a research note on Wednesday, March 4th. Zacks Investment Research downgraded Proofpoint from a hold rating to a sell rating and set a $128.00 price objective for the company. in a research note on Wednesday, January 8th. BTIG Research assumed coverage on Proofpoint in a research note on Friday, March 27th. They set a buy rating and a $125.00 price objective for the company. ValuEngine upgraded Proofpoint from a hold rating to a buy rating in a research note on Friday, February 28th. Finally, Robert W. Baird restated a buy rating and issued a $145.00 price target on shares of Proofpoint in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned 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 a consensus rating of Buy and an average price target of $140.88.

Shares of NASDAQ:PFPT traded down $3.66 during mid-day trading on Wednesday, reaching $97.89. 656,468 shares of the company traded hands, compared to its average volume of 771,559. The company’s 50 day moving average price is $109.52 and its 200-day moving average price is $118.30. The firm has a market cap of $5.79 billion, a PE ratio of -42.01 and a beta of 1.40. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.59 and a quick ratio of 1.59. Proofpoint has a 52 week low of $83.81 and a 52 week high of $133.58.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, January 30th. The software maker reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.61. The company had revenue of $243.40 million during the quarter, compared to the consensus estimate of $239.11 million. Proofpoint had a negative return on equity of 8.73% and a negative net margin of 14.67%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. On average, research analysts predict that Proofpoint will post -1.1 earnings per share for the current fiscal year.

In related news, EVP Bhagwat Swaroop sold 5,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $122.02, for a total transaction of $610,100.00. Following the sale, the executive vice president now owns 5,726 shares in the company, valued at approximately $698,686.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Knight sold 2,500 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $123.96, for a total value of $309,900.00. Following the sale, the executive vice president now owns 7,328 shares in the company, valued at approximately $908,378.88. The disclosure for this sale can be found here. Insiders have sold a total of 105,000 shares of company stock worth $12,272,000 over the last ninety days. Insiders own 2.93% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Credit Suisse AG raised its holdings in Proofpoint by 11.5% during the 4th quarter. Credit Suisse AG now owns 385,381 shares of the software maker’s stock valued at $44,234,000 after buying an additional 39,875 shares during the period. Polianta Ltd increased its stake in Proofpoint by 2.1% in the fourth quarter. Polianta Ltd now owns 9,700 shares of the software maker’s stock worth $1,113,000 after purchasing an additional 200 shares during the period. AO Asset Management LP increased its stake in Proofpoint by 16.3% in the fourth quarter. AO Asset Management LP now owns 165,200 shares of the software maker’s stock worth $18,962,000 after purchasing an additional 23,200 shares during the period. Teza Capital Management LLC purchased a new stake in Proofpoint in the fourth quarter worth $369,000. Finally, Parametric Portfolio Associates LLC increased its stake in Proofpoint by 6.5% in the third quarter. Parametric Portfolio Associates LLC now owns 85,775 shares of the software maker’s stock worth $11,069,000 after purchasing an additional 5,252 shares during the period. Institutional investors own 96.94% 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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