Proofpoint’s (PFPT) “Neutral” Rating Reaffirmed at DA Davidson

DA Davidson restated their neutral rating on shares of Proofpoint (NASDAQ:PFPT) in a research report report published on Monday, Benzinga reports. The firm currently has a $176.00 price target on the software maker’s stock, up from their prior price target of $160.00.

A number of other research firms also recently issued reports on PFPT. Wedbush downgraded shares of Proofpoint from an outperform rating to a neutral rating and set a $176.00 target price on the stock. in a research report on Tuesday, April 27th. Mizuho upped their price objective on shares of Proofpoint from $115.00 to $130.00 and gave the stock a neutral rating in a research report on Tuesday, January 12th. Summit Insights raised Proofpoint from a hold rating to a buy rating and set a $165.00 price objective for the company in a research report on Monday, April 26th. Stephens started coverage on Proofpoint in a report on Monday, February 1st. They set an overweight rating and a $165.00 price target for the company. Finally, Truist downgraded Proofpoint from a buy rating to a hold rating and lifted their price objective for the stock from $155.00 to $176.00 in a report on Tuesday, April 27th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $156.47.

Shares of PFPT stock opened at $172.01 on Monday. The company has a fifty day moving average price of $136.11 and a two-hundred day moving average price of $124.36. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market cap of $9.87 billion, a P/E ratio of -62.55 and a beta of 1.25. Proofpoint has a one year low of $91.60 and a one year high of $174.25.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings results on Sunday, April 25th. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. Proofpoint had a negative net margin of 15.46% and a negative return on equity of 6.63%. The company had revenue of $287.30 million for the quarter, compared to analyst estimates of $281.63 million. During the same period in the previous year, the firm posted $0.38 EPS. The firm’s revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts anticipate that Proofpoint will post -0.52 EPS for the current fiscal year.

In related news, EVP Robert Darren Lee sold 2,317 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $123.54, for a total transaction of $286,242.18. Following the completion of the transaction, the executive vice president now owns 4,634 shares of the company’s stock, valued at approximately $572,484.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary Steele sold 5,000 shares of Proofpoint stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $128.86, for a total value of $644,300.00. Following the completion of the sale, the chief executive officer now directly owns 70,040 shares of the company’s stock, valued at approximately $9,025,354.40. The disclosure for this sale can be found here. Insiders sold a total of 14,817 shares of company stock valued at $1,904,117 over the last quarter. Company insiders own 2.93% of the company’s stock.

Several large investors have recently made changes to their positions in PFPT. CWM LLC boosted its position in shares of Proofpoint by 2,075.0% during the fourth quarter. CWM LLC now owns 261 shares of the software maker’s stock valued at $36,000 after buying an additional 249 shares during the period. Global Retirement Partners LLC boosted its position in shares of Proofpoint by 58.3% during the fourth quarter. Global Retirement Partners LLC now owns 497 shares of the software maker’s stock valued at $68,000 after buying an additional 183 shares during the period. Wolff Wiese Magana LLC purchased a new position in shares of Proofpoint during the fourth quarter valued at approximately $87,000. IFP Advisors Inc boosted its holdings in shares of Proofpoint by 2,376.2% in the fourth quarter. IFP Advisors Inc now owns 1,040 shares of the software maker’s stock valued at $141,000 after purchasing an additional 998 shares during the period. Finally, Sowell Financial Services LLC boosted its holdings in shares of Proofpoint by 10.6% in the fourth quarter. Sowell Financial Services LLC now owns 1,216 shares of the software maker’s stock valued at $166,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 92.75% of the company’s stock.

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.

Further Reading: Shanghai Stock Exchange Composite Index

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

Receive News & Ratings for Proofpoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint and related companies with MarketBeat.com's FREE daily email newsletter.