Stock Buzzer: After Achieving Record High, Is Proofpoint Inc’s Near-Term Analysis Positive?

Stock Buzzer: After Achieving Record High, Is Proofpoint Inc's Near Term Analysis Positive?

The stock of Proofpoint Inc (NASDAQ:PFPT) reached all time high today, Nov, 10 and still has $127.25 target or 61.00% above today’s $79.04 share price. This indicates more upside for the $3.47B company. This technical setup was reported by Barchart.com. If the $127.25 PT is reached, the company will be worth $2.12 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 440,726 shares traded hands. Proofpoint Inc (NASDAQ:PFPT) has risen 56.29% since April 8, 2016 and is uptrending. It has outperformed by 50.64% the S&P500.

Proofpoint Inc (NASDAQ:PFPT) Ratings Coverage

Out of 19 analysts covering Proofpoint Inc (NASDAQ:PFPT), 16 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 84% are positive. Proofpoint Inc has been the topic of 41 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock has “In-Line” rating given by Imperial Capital on Monday, July 27. The firm has “Outperform” rating by Northland Capital given on Friday, July 24. FBR Capital maintained it with “Outperform” rating and $80 target price in Friday, July 24 report. The firm has “Buy” rating by Wunderlich given on Tuesday, September 13. The company was maintained on Friday, July 22 by Stifel Nicolaus. The stock of Proofpoint Inc (NASDAQ:PFPT) has “Outperform” rating given on Wednesday, July 22 by Northland Capital. The stock of Proofpoint Inc (NASDAQ:PFPT) earned “Sell” rating by Zacks on Tuesday, August 18. The stock of Proofpoint Inc (NASDAQ:PFPT) earned “Outperform” rating by Imperial Capital on Monday, April 25. Summit Redstone Partners reinitiated Proofpoint Inc (NASDAQ:PFPT) rating on Tuesday, August 16. Summit Redstone Partners has “Buy” rating and $90 price target. The rating was downgraded by Zacks on Monday, September 7 to “Sell”.

According to Zacks Investment Research, “Proofpoint, Inc. is a leading security-as-a-service provider that focuses on cloud-based solutions for threat protection, compliance, archiving & governance, and secure communications. Organizations around the world depend on Proofpoint’s expertise, patented technologies, and on-demand delivery system to protect against phishing, malware and spam, safeguard privacy, encrypt sensitive information, and archive and govern messages and critical enterprise information.”

Insitutional Activity: The institutional sentiment increased to 1.19 in Q2 2016. Its up 0.15, from 1.04 in 2016Q1. The ratio increased, as 23 funds sold all Proofpoint Inc shares owned while 68 reduced positions. 37 funds bought stakes while 71 increased positions. They now own 46.83 million shares or 1.32% more from 46.23 million shares in 2016Q1.
Everpoint Asset Mngmt has invested 0.06% of its portfolio in Proofpoint Inc (NASDAQ:PFPT). Macquarie Gru Ltd has 0.06% invested in the company for 482,327 shares. Balyasny Asset Limited Liability Corporation, a Illinois-based fund reported 6,536 shares. The Ohio-based Strs Ohio has invested 0% in Proofpoint Inc (NASDAQ:PFPT). Wells Fargo Co Mn reported 2.73 million shares or 0.07% of all its holdings. Jericho Capital Asset Mngmt Ltd Partnership has invested 5.11% of its portfolio in Proofpoint Inc (NASDAQ:PFPT). Federated Invsts Pa accumulated 0% or 693 shares. Jefferies Group Ltd Co has 23,293 shares for 0.01% of their US portfolio. Moreover, Ubs Asset Management Americas Inc has 0.02% invested in Proofpoint Inc (NASDAQ:PFPT) for 342,431 shares. Ridgeworth Capital Mgmt Limited Liability Company has 0.01% invested in the company for 12,217 shares. Artisan Prtnrs Ltd Partnership has 896,953 shares for 0.12% of their US portfolio. D E Shaw & Incorporated holds 0.01% or 100,447 shares in its portfolio. Quantitative Invest Mngmt Limited Liability Co has 4,700 shares for 0.01% of their US portfolio. Elk Creek Prtn Llc last reported 0.56% of its portfolio in the stock. Pillar Pacific Mgmt Ltd Liability has 0.08% invested in the company for 7,400 shares.

Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 30 sales for $17.86 million net activity. EVAN DANA L had sold 4,500 shares worth $338,936. 20,000 shares were sold by Steele Gary, worth $1.15M on Thursday, May 26. Hahn Eric had sold 5,000 shares worth $364,481 on Thursday, October 6. Another trade for 2,000 shares valued at $152,100 was sold by Lee Robert Darren. Shares for $127,048 were sold by Knight David. The insider Newell Tracey sold 9,892 shares worth $761,587. GARN DOUGLAS F sold 12,500 shares worth $933,203.

Another recent and important Proofpoint Inc (NASDAQ:PFPT) news was published by Schaeffersresearch.com which published an article titled: “Analyst Update: Advanced Micro Devices, Inc., Proofpoint Inc, and CBS Corporation” on October 21, 2016.

PFPT Company Profile

Proofpoint, Inc., incorporated on June 24, 2002, is a security-as-a-service well-known 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. The Company’s solutions are built on a cloud platform, which protects data through on-premise and cloud e-mail, instant messaging, social media and other Web applications, and also keeps tracks of the information as it is modified and distributed throughout the enterprise for compliance and data loss prevention. The Firm provides a multi-tiered security-as-a-service platform, comprising solutions, platform technologies and infrastructure. The Company’s security-as-a-service platform offers five solutions: Proofpoint Enterprise Protection, Proofpoint Information Protection, Proofpoint Enterprise Archive, Proofpoint Social Media Security & Compliance, and Proofpoint Essentials.

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