Proofpoint (NASDAQ:PFPT) Price Target Raised to $131.00

Proofpoint (NASDAQ:PFPT) had its target price boosted by equities researchers at Morgan Stanley from $126.00 to $131.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price target indicates a potential upside of 13.25% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Citigroup lifted their price target on shares of Proofpoint from $147.00 to $166.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Cowen reduced their price target on shares of Proofpoint from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Zacks Investment Research upgraded shares of Proofpoint from a “sell” rating to a “hold” rating and set a $123.00 price target for the company in a research report on Monday, April 13th. BidaskClub upgraded shares of Proofpoint from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Oppenheimer reiterated a “hold” rating on shares of Proofpoint in a research report on Friday. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Proofpoint presently has an average rating of “Buy” and a consensus target price of $142.68.

Shares of NASDAQ:PFPT opened at $115.67 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.61 and a current ratio of 1.61. Proofpoint has a 52 week low of $83.81 and a 52 week high of $133.58. The company has a 50-day moving average price of $114.22 and a 200 day moving average price of $115.53.

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, July 30th. The software maker reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.78. The firm had revenue of $258.44 million during the quarter, compared to the consensus estimate of $252.95 million. Proofpoint had a negative net margin of 17.35% and a negative return on equity of 7.09%. On average, research analysts forecast that Proofpoint will post -1.04 EPS for the current fiscal year.

In other Proofpoint news, EVP David Knight sold 2,500 shares of Proofpoint stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $109.81, for a total value of $274,525.00. Following the completion of the sale, the executive vice president now directly owns 17,329 shares of the company’s stock, valued at approximately $1,902,897.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul R. Auvil III sold 25,000 shares of Proofpoint stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $125.02, for a total transaction of $3,125,500.00. Following the completion of the sale, the chief financial officer now directly owns 103,149 shares of the company’s stock, valued at $12,895,687.98. The disclosure for this sale can be found here. Insiders sold a total of 78,892 shares of company stock valued at $9,347,982 over the last ninety days. 2.93% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PFPT. Comerica Bank boosted its position in Proofpoint by 8.0% during the 2nd quarter. Comerica Bank now owns 2,470 shares of the software maker’s stock worth $303,000 after purchasing an additional 183 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in Proofpoint by 2,258.3% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 283 shares of the software maker’s stock worth $31,000 after buying an additional 271 shares in the last quarter. UBS Group AG lifted its holdings in Proofpoint by 12.0% in the 2nd quarter. UBS Group AG now owns 38,418 shares of the software maker’s stock worth $4,269,000 after buying an additional 4,111 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC acquired a new position in Proofpoint in the 2nd quarter worth $753,000. Finally, Mackay Shields LLC acquired a new position in Proofpoint in the 2nd quarter worth $14,617,000. 94.59% of the stock is owned by institutional investors.

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.

See Also: Why is a lock-up period needed for an IPO?

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.