Proofpoint (NASDAQ:PFPT) Given New $153.00 Price Target at Northland Securities

Proofpoint (NASDAQ:PFPT) had its price objective increased by Northland Securities from $145.00 to $153.00 in a research report issued on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Northland Securities’ price target would suggest a potential upside of 32.27% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Robert W. Baird reaffirmed a “buy” rating on shares of Proofpoint in a report on Friday. Morgan Stanley upped their price target on shares of Proofpoint from $108.00 to $116.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. Wedbush upped their price target on shares of Proofpoint from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and issued a $151.00 price target on shares of Proofpoint in a report on Friday, June 19th. Finally, BidaskClub raised shares of Proofpoint from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Seven 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 a consensus rating of “Buy” and a consensus target price of $142.68.

Shares of PFPT opened at $115.67 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.61 and a quick ratio of 1.61. Proofpoint has a 1-year low of $83.81 and a 1-year high of $133.58. The company’s fifty day moving average price is $114.22 and its 200-day moving average price is $115.53.

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

In other news, EVP Bhagwat Swaroop sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $125.00, for a total value of $187,500.00. Following the completion of the sale, the executive vice president now owns 1,698 shares of the company’s stock, valued at approximately $212,250. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Paul R. Auvil III sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were 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 approximately $12,895,687.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,892 shares of company stock valued at $9,347,982. 2.93% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Proofpoint by 5.8% in the 1st quarter. BlackRock Inc. now owns 2,908,291 shares of the software maker’s stock valued at $298,361,000 after buying an additional 159,563 shares during the period. Bank of New York Mellon Corp raised its stake in Proofpoint by 58.5% during the 1st quarter. Bank of New York Mellon Corp now owns 2,076,735 shares of the software maker’s stock worth $213,053,000 after acquiring an additional 766,608 shares in the last quarter. Wasatch Advisors Inc. raised its stake in Proofpoint by 29.1% during the 1st quarter. Wasatch Advisors Inc. now owns 1,684,535 shares of the software maker’s stock worth $172,816,000 after acquiring an additional 380,018 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in Proofpoint by 20.3% during the 1st quarter. Pictet Asset Management Ltd. now owns 1,097,357 shares of the software maker’s stock worth $112,578,000 after acquiring an additional 184,942 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its stake in Proofpoint by 12.4% during the 1st quarter. Champlain Investment Partners LLC now owns 761,150 shares of the software maker’s stock worth $78,086,000 after acquiring an additional 83,895 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

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.

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