Published On: Sat, Sep 17th, 2016

Proofpoint Inc. (PFPT) Research Coverage Started at Wunderlich

Investment analysts at Wunderlich began coverage on shares of Proofpoint Inc. (NASDAQ:PFPT) in a note issued to investors on Tuesday. The firm set a “buy” rating and a $90.00 price target on the stock. Wunderlich’s target price would indicate a potential upside of 17.46% from the stock’s current price.
Several other research analysts also recently issued reports on PFPT. Pacific Crest reiterated a “buy” rating on shares of Proofpoint in a research note on Sunday, May 22nd. Wedbush reiterated an “outperform” rating and issued a $78.00 target price on shares of Proofpoint in a research note on Thursday, June 9th. Credit Suisse Group AG reiterated a “buy” rating and issued a $85.00 target price on shares of Proofpoint in a research note on Thursday, June 9th. Deutsche Bank AG reiterated a “buy” rating and issued a $72.00 target price on shares of Proofpoint in a research note on Thursday, June 9th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $62.00 target price on shares of Proofpoint in a research note on Monday, June 13th. One research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Proofpoint has an average rating of “Buy” and a consensus price target of $79.42.
Proofpoint (NASDAQ:PFPT) traded up 0.66% on Tuesday, reaching $76.62. 542,078 shares of the company traded hands. The stock’s 50-day moving average is $76.07 and its 200-day moving average is $62.53. The stock’s market capitalization is $3.22 billion. Proofpoint has a 1-year low of $35.56 and a 1-year high of $80.68.

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Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, July 21st. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.13. The firm had revenue of $89.90 million for the quarter, compared to the consensus estimate of $84.22 million. Proofpoint had a negative net margin of 41.46% and a negative return on equity of 120.27%. Equities research analysts expect that Proofpoint will post $0.09 EPS for the current year.
In other Proofpoint news, SVP Robert Darren Lee sold 2,000 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $68.99, for a total transaction of $137,980.00. Following the completion of the transaction, the senior vice president now owns 94 shares in the company, valued at $6,485.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $59.70, for a total transaction of $298,500.00. Following the transaction, the chairman now owns 118,164 shares of the company’s stock, valued at approximately $7,054,390.80. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Proofpoint during the fourth quarter valued at approximately $12,236,000. Parametrica Management Ltd purchased a new stake in shares of Proofpoint during the first quarter valued at $233,000. TIAA CREF Investment Management LLC increased its stake in shares of Proofpoint by 10.9% in the first quarter. TIAA CREF Investment Management LLC now owns 510,545 shares of the company’s stock valued at $27,457,000 after buying an additional 50,052 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of Proofpoint by 9.4% in the first quarter. Teachers Advisors Inc. now owns 448,581 shares of the company’s stock valued at $24,125,000 after buying an additional 38,648 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Proofpoint during the first quarter valued at $375,000.
Proofpoint Company Profile
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations around the world. The Company’s security-as-a-service platform consists of a suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.

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