Price Action to Note: Could Proofpoint Inc See a Reversal After Breaking All Highs?

Price Action to Note: Could Proofpoint Inc See a Reversal After Breaking All Highs?

The stock of Proofpoint Inc (NASDAQ:PFPT) reached all time high today, Nov, 16 and still has $139.47 target or 62.00% above today’s $86.09 share price. This indicates more upside for the $3.77 billion company. This technical setup was reported by Barchart.com. If the $139.47 PT is reached, the company will be worth $2.34 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 189,745 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. Imperial Capital maintained it with “Outperform” rating and $69 target price in Monday, April 25 report. RBC Capital Markets maintained it with “Outperform” rating and $80 target price in Friday, July 22 report. The stock of Proofpoint Inc (NASDAQ:PFPT) has “Outperform” rating given on Tuesday, November 15 by Robert W. Baird. The stock of Proofpoint Inc (NASDAQ:PFPT) earned “Sector Weight” rating by Pacific Crest on Friday, July 22. As per Thursday, September 10, the company rating was initiated by BTIG Research. The stock has “Buy” rating given by Wunderlich on Friday, July 22. Northland Capital maintained the shares of PFPT in a report on Wednesday, July 22 with “Outperform” rating. The stock has “Sell” rating given by Zacks on Tuesday, August 25. Stifel Nicolaus reinitiated Proofpoint Inc (NASDAQ:PFPT) rating on Tuesday, September 29. Stifel Nicolaus has “Buy” rating and $75.0 price target. The company was initiated on Tuesday, November 10 by Dougherty & Company.

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 improved, 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.
Falcon Point Cap, a California-based fund reported 239,287 shares. Rhumbline Advisers last reported 0.01% of its portfolio in the stock. Mycio Wealth Prtnrs Lc reported 22 shares or 0% of all its holdings. Croft has invested 0.11% of its portfolio in Proofpoint Inc (NASDAQ:PFPT). Palisade Cap Management Lc Nj last reported 102,237 shares in the company. Ubs Asset Management Americas owns 342,431 shares or 0.02% of their US portfolio. Millrace Asset Inc accumulated 17,134 shares or 1.76% of the stock. Da Davidson & has 1,528 shares for 0% of their US portfolio. California State Teachers Retirement Sys last reported 0.01% of its portfolio in the stock. Blair William & Co Il holds 0.01% or 21,890 shares in its portfolio. Financial Architects Inc owns 100 shares or 0% of their US portfolio. Tiverton Asset Management Ltd Liability has 0.18% invested in the company for 152,968 shares. Amer Incorporated, a New York-based fund reported 23,505 shares. Mizuho Asset Mgmt Coltd last reported 0.04% of its portfolio in the stock. Rs Invest Mgmt Communications Limited Com holds 0.92% or 1.42 million shares in its portfolio.

Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 30 selling transactions for $17.86 million net activity. Another trade for 20,000 shares valued at $1.48M was made by Steele Gary on Tuesday, October 4. 10,000 shares were sold by Knight David, worth $701,956. 2,000 shares with value of $156,680 were sold by Lee Robert Darren on Tuesday, November 1. GARN DOUGLAS F had sold 12,500 shares worth $933,203 on Wednesday, July 27. Another trade for 4,500 shares valued at $338,936 was sold by EVAN DANA L. Another trade for 9,892 shares valued at $761,587 was sold by Newell Tracey. Hahn Eric had sold 5,000 shares worth $272,315.

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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