Proofpoint (PFPT) Upgraded by BidaskClub to “Buy”

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BidaskClub upgraded shares of Proofpoint (NASDAQ:PFPT) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Proofpoint from a sell rating to a buy rating and set a $128.00 price objective for the company in a research note on Wednesday, August 1st. Morgan Stanley lifted their price objective on Proofpoint from $135.00 to $139.00 and gave the company an overweight rating in a research note on Friday, July 27th. Needham & Company LLC reaffirmed a buy rating and issued a $140.00 price objective on shares of Proofpoint in a research note on Friday, July 27th. Stifel Nicolaus lifted their price objective on Proofpoint to $130.00 and gave the company a buy rating in a research note on Friday, July 27th. Finally, Monness Crespi & Hardt 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 27th. Five analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Proofpoint currently has an average rating of Buy and an average price target of $128.68.

NASDAQ:PFPT opened at $117.16 on Thursday. Proofpoint has a 52 week low of $82.61 and a 52 week high of $130.27. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of -89.44 and a beta of 1.18.

Proofpoint (NASDAQ:PFPT) last posted its earnings results on Thursday, July 26th. The software maker reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.09. Proofpoint had a negative return on equity of 16.48% and a negative net margin of 12.93%. The company had revenue of $171.90 million for the quarter, compared to the consensus estimate of $169.46 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. research analysts predict that Proofpoint will post -1.18 EPS for the current fiscal year.

In other Proofpoint news, EVP Bhagwat Swaroop sold 4,000 shares of Proofpoint stock in a transaction dated Friday, July 6th. The stock was sold at an average price of $116.28, for a total transaction of $465,120.00. Following the completion of the sale, the executive vice president now directly owns 13,784 shares of the company’s stock, valued at approximately $1,602,803.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary Steele sold 50,000 shares of Proofpoint stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $117.62, for a total value of $5,881,000.00. Following the sale, the chief executive officer now directly owns 121,589 shares of the company’s stock, valued at $14,301,298.18. The disclosure for this sale can be found here. Insiders have sold a total of 207,711 shares of company stock valued at $24,788,952 over the last ninety days. 5.96% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. lifted its holdings in shares of Proofpoint by 4,395.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 899 shares of the software maker’s stock valued at $102,000 after purchasing an additional 879 shares during the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Proofpoint by 181.1% in the 2nd quarter. Federated Investors Inc. PA now owns 1,386 shares of the software maker’s stock valued at $160,000 after purchasing an additional 893 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of Proofpoint in the 2nd quarter valued at about $163,000. World Asset Management Inc purchased a new stake in shares of Proofpoint in the 2nd quarter valued at about $205,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Proofpoint in the 2nd quarter valued at about $211,000.

About Proofpoint

Proofpoint, Inc operates as a security-as-a-service (SaaS) 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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