Morgan Stanley Increases Proofpoint (NASDAQ:PFPT) Price Target to $131.00

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

Several other equities analysts have also recently issued reports on the company. Citigroup boosted their price objective on Proofpoint from $147.00 to $166.00 and gave the company a “buy” rating in a report on Friday, May 8th. Zacks Investment Research raised Proofpoint from a “sell” rating to a “hold” rating and set a $123.00 price objective for the company in a report on Monday, April 13th. Northland Securities boosted their price objective on Proofpoint from $145.00 to $153.00 and gave the company an “outperform” rating in a report on Friday. ValuEngine cut Proofpoint from a “buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, Oppenheimer reissued a “hold” rating on shares of Proofpoint in a report on Friday. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Proofpoint currently has an average rating of “Buy” and an average target price of $142.68.

Shares of PFPT opened at $115.67 on Friday. The stock has a 50-day moving average of $114.22 and a two-hundred day moving average of $115.53. Proofpoint has a one year low of $83.81 and a one year high of $133.58. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.43.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, July 30th. The software maker reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.78. The company had revenue of $258.44 million during the quarter, compared to analysts’ expectations of $252.95 million. Proofpoint had a negative return on equity of 7.09% and a negative net margin of 17.35%. On average, equities analysts expect that Proofpoint will post -1.04 earnings per share for the current year.

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

A number of large investors have recently bought and sold shares of the business. Flagship Harbor Advisors LLC grew its position in shares of Proofpoint by 2,258.3% in the second quarter. Flagship Harbor Advisors LLC now owns 283 shares of the software maker’s stock valued at $31,000 after purchasing an additional 271 shares in the last quarter. Private Capital Group LLC purchased a new stake in shares of Proofpoint in the first quarter valued at approximately $34,000. Exchange Traded Concepts LLC purchased a new stake in shares of Proofpoint in the second quarter valued at approximately $43,000. Nisa Investment Advisors LLC purchased a new stake in shares of Proofpoint in the first quarter valued at approximately $41,000. Finally, Global Retirement Partners LLC grew its position in shares of Proofpoint by 35.6% in the second quarter. Global Retirement Partners LLC now owns 411 shares of the software maker’s stock valued at $46,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 94.59% 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.

Further Reading: Outperform Rating

Analyst Recommendations for Proofpoint (NASDAQ:PFPT)

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