Goldman Sachs Downgrades Proofpoint Inc to Sell

Brokerage firm Goldman Sachs Downgrades its rating on Proofpoint Inc(PFPT). The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at Goldman Sachs was issued on Mar 23, 2017 in a research report to their Investors and Clients.

Proofpoint Inc (PFPT) shares turned negative on Fridays trading session with the shares closing down -0.42 points or -0.57% at a volume of 7,22,727. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $74.35. The peak price level was also seen at $74.35 while the days lowest was $72.75. Finally the shares closed at $73.37. The 52-week high of the shares is $88 while the 52-week low is $46.575. According to the latest information available, the market cap of the company is $3,177 M.

Proofpoint Inc(PFPT) last announced its earnings results on Jan 26, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $106.805M. Analysts had an estimated revenue of $104.690M. Earnings per share were $0.18. Analysts had estimated an EPS of $0.13.

Several Insider Transactions has been reported to the SEC. On Mar 22, 2017, Gary Steele (Chief Executive Officer) sold 40,000 shares at $80.63 per share price.Also, On Mar 17, 2017, David Knight (EVP/GM, Threat Sys Product Grp) sold 3,000 shares at $79.92 per share price.On Mar 3, 2017, Robert Darren Lee (SVP, GM Archiving & Governance) sold 3,000 shares at $77.66 per share price, according to the Form-4 filing with the securities and exchange commission.

Proofpoint Inc. is a security-as-a-service provider that provides data protection solutions for 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 provides a multi-tiered security-as-a-service platform comprising solutions platform technologies and infrastructure. Its security-as-a-service platform offers a bundle of five solutions: Proofpoint Enterprise Protection Proofpoint Enterprise Privacy Proofpoint Enterprise Archive & Governance Proofpoint Nexgate Social Media Security & Compliance and Proofpoint Essentials. Its platform’s services include content inspection reputation encryption and key management notification and workflow and analytics and search.

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