$120.40 Million in Sales Expected for Proofpoint, Inc. (PFPT) This Quarter
Equities research analysts expect Proofpoint, Inc. (NASDAQ:PFPT) to report $120.40 million in sales for the current quarter, Zacks reports. Eight analysts have provided estimates for Proofpoint’s earnings. The lowest sales estimate is $119.05 million and the highest is $123.33 million. Proofpoint posted sales of $89.90 million during the same quarter last year, which suggests a positive year over year growth rate of 33.9%. The firm is expected to report its next earnings results after the market closes on Thursday, July 27th.
On average, analysts expect that Proofpoint will report full-year sales of $120.40 million for the current fiscal year, with estimates ranging from $491.57 million to $506.62 million. For the next fiscal year, analysts forecast that the company will report sales of $644.20 million per share, with estimates ranging from $635.44 million to $658.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Proofpoint.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings results on Thursday, April 20th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. Proofpoint had a negative return on equity of 126.46% and a negative net margin of 25.63%. The firm had revenue of $113.30 million for the quarter, compared to analyst estimates of $110.60 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. The company’s revenue was up 43.4% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Proofpoint in a research report on Wednesday, June 7th. They issued a “buy” rating and a $90.00 price target for the company. Susquehanna Bancshares Inc started coverage on shares of Proofpoint in a research report on Wednesday, June 7th. They issued a “positive” rating and a $106.00 price target for the company. ValuEngine raised shares of Proofpoint from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. FBN Securities started coverage on shares of Proofpoint in a report on Monday, May 22nd. They issued an “outperform” rating and a $95.00 target price for the company. Finally, Goldman Sachs Group, Inc. (The) cut shares of Proofpoint from a “neutral” rating to a “sell” rating and set a $69.00 target price for the company. in a report on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the stock. Proofpoint presently has a consensus rating of “Buy” and a consensus price target of $86.95.
In other news, EVP David Knight sold 3,000 shares of the stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $75.38, for a total value of $226,140.00. Following the sale, the executive vice president now directly owns 12,642 shares in the company, valued at $952,953.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tracey Newell sold 8,183 shares of the stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $73.83, for a total transaction of $604,150.89. Following the completion of the sale, the executive vice president now owns 26,529 shares in the company, valued at $1,958,636.07. The disclosure for this sale can be found here. Insiders sold 195,732 shares of company stock worth $15,968,112 over the last quarter. Company insiders own 6.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC raised its stake in Proofpoint by 1.1% in the first quarter. Driehaus Capital Management LLC now owns 79,569 shares of the software maker’s stock valued at $5,917,000 after buying an additional 871 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Proofpoint during the first quarter valued at about $225,000. AQR Capital Management LLC increased its position in shares of Proofpoint by 21.3% in the first quarter. AQR Capital Management LLC now owns 14,465 shares of the software maker’s stock valued at $1,076,000 after buying an additional 2,542 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Proofpoint during the first quarter valued at about $394,000. Finally, State Street Corp increased its position in shares of Proofpoint by 3.3% in the first quarter. State Street Corp now owns 791,294 shares of the software maker’s stock valued at $58,840,000 after buying an additional 25,368 shares during the last quarter.
WARNING: “$120.40 Million in Sales Expected for Proofpoint, Inc. (PFPT) This Quarter” was first posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/06/24/120-40-million-in-sales-expected-for-proofpoint-inc-pfpt-this-quarter.html.
Shares of Proofpoint (NASDAQ PFPT) traded up 0.80% during trading on Friday, reaching $88.63. The company’s stock had a trading volume of 858,188 shares. The stock’s 50 day moving average price is $85.13 and its 200-day moving average price is $79.25. The stock’s market cap is $3.87 billion. Proofpoint has a 52-week low of $57.13 and a 52-week high of $94.33.
Proofpoint Company Profile
Proofpoint, Inc is a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive and govern their sensitive data. The Company’s security-as-a-service platform consists of an integrated suite of on-demand data protection solutions, including threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Proofpoint Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proofpoint Inc. and related companies with MarketBeat.com's FREE daily email newsletter.