The stock of Proofpoint Inc (NASDAQ:PFPT) hit a new 52-week high and has $141.25 target or 66.00% above today’s $85.09 share price. The 6 months bullish chart indicates low risk for the $3.73 billion company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $141.25 price target is reached, the company will be worth $2.46 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 100,268 shares traded hands. Proofpoint Inc (NASDAQ:PFPT) has risen 63.47% since April 14, 2016 and is uptrending. It has outperformed by 58.78% the S&P500.
Proofpoint Inc (NASDAQ:PFPT) Ratings Coverage
Out of 20 analysts covering Proofpoint Inc (NASDAQ:PFPT), 17 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 85% are positive. Proofpoint Inc has been the topic of 42 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by Citigroup on Tuesday, July 19 with “Buy”. On Friday, July 22 the stock rating was maintained by Wunderlich with “Buy”. The firm earned “Buy” rating on Tuesday, August 11 by Deutsche Bank. The firm has “Outperform” rating given on Friday, January 29 by FBR Capital. Zacks downgraded the shares of PFPT in a report on Monday, September 7 to “Sell” rating. Pacific Crest downgraded Proofpoint Inc (NASDAQ:PFPT) on Friday, July 22 to “Sector Weight” rating. The rating was maintained by Dougherty & Company on Friday, July 22 with “Buy”. On Thursday, September 17 the stock rating was maintained by Wells Fargo with “Outperform”. The firm has “Outperform” rating given on Monday, October 19 by RBC Capital Markets. The stock of Proofpoint Inc (NASDAQ:PFPT) earned “Buy” rating by BTIG Research on Thursday, September 10.
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 is positive, 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.
Price T Rowe Assocs Md accumulated 6.28 million shares or 0.08% of the stock. Mutual Of America Capital Management Ltd last reported 161,419 shares in the company. Pier Lc holds 1.03% of its portfolio in Proofpoint Inc (NASDAQ:PFPT) for 89,350 shares. Amalgamated National Bank last reported 4,314 shares in the company. Jennison Limited reported 416,474 shares or 0.03% of all its holdings. The New York-based Suffolk Mngmt Ltd Liability Company has invested 0.32% in Proofpoint Inc (NASDAQ:PFPT). Herald Invest Mngmt Limited owns 92,403 shares or 2.44% of their US portfolio. Guggenheim Limited Liability Com has 55,952 shares for 0.01% of their US portfolio. Northern Tru owns 580,949 shares or 0.01% of their US portfolio. Century Cos holds 34,376 shares or 0% of its portfolio. Ubs Asset Mngmt Americas Inc holds 0.02% of its portfolio in Proofpoint Inc (NASDAQ:PFPT) for 342,431 shares. Bnp Paribas Arbitrage Sa accumulated 0% or 2,417 shares. Moreover, Macquarie Group has 0.06% invested in Proofpoint Inc (NASDAQ:PFPT) for 482,327 shares. Moreover, Artisan Prtnrs Limited Partnership has 0.12% invested in Proofpoint Inc (NASDAQ:PFPT) for 896,953 shares. Moreover, Columbia Ptnrs L L C Inv Mgmt has 0.58% invested in Proofpoint Inc (NASDAQ:PFPT) for 123,708 shares.
Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 30 insider sales for $17.86 million net activity. The insider GARN DOUGLAS F sold $933,203. 3,000 shares were sold by Knight David, worth $234,427. The insider Lee Robert Darren sold $152,100. Hahn Eric also sold $380,192 worth of Proofpoint Inc (NASDAQ:PFPT) on Tuesday, August 23. Newell Tracey also sold $761,587 worth of Proofpoint Inc (NASDAQ:PFPT) shares. 20,000 shares were sold by Steele Gary, worth $1.15M on Thursday, May 26. EVAN DANA L had sold 1,500 shares worth $111,246.
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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