Proofpoint, Inc. (NASDAQ:PFPT) Issues FY17 Earnings Guidance
Proofpoint, Inc. (NASDAQ:PFPT) issued an update on its FY17 earnings guidance on Thursday morning. The company provided EPS guidance of $0.62-0.64 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.58. The company issued revenue guidance of $503-506 million, compared to the consensus revenue estimate of $499.77 million.Proofpoint also updated its Q3 guidance to $0.16-0.18 EPS.
Proofpoint, Inc. (NASDAQ:PFPT) traded down 1.58% during mid-day trading on Thursday, hitting $88.44. 1,457,187 shares of the stock were exchanged. Proofpoint, Inc. has a one year low of $67.50 and a one year high of $94.33. The company’s market cap is $3.87 billion. The company has a 50-day moving average price of $87.93 and a 200-day moving average price of $82.00.
Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, July 27th. The software maker reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The firm had revenue of $122.30 million during the quarter, compared to analysts’ expectations of $119.58 million. Proofpoint had a negative return on equity of 126.46% and a negative net margin of 25.63%. The company’s revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. Analysts forecast that Proofpoint, Inc. will post $0.59 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the company. Morgan Stanley reaffirmed an overweight rating and set a $102.00 target price (up previously from $97.00) on shares of Proofpoint in a research report on Thursday, July 20th. Needham & Company LLC assumed coverage on Proofpoint in a research report on Friday, July 21st. They set a buy rating and a $115.00 target price for the company. Stifel Nicolaus assumed coverage on Proofpoint in a research report on Wednesday, June 7th. They set a buy rating and a $90.00 target price for the company. Susquehanna Bancshares Inc assumed coverage on Proofpoint in a research report on Wednesday, June 7th. They set a positive rating and a $106.00 target price for the company. Finally, ValuEngine raised Proofpoint from a sell rating to a hold rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $89.87.
In related news, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $89.08, for a total value of $728,941.64. Following the completion of the transaction, the executive vice president now directly owns 15,195 shares in the company, valued at $1,353,570.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Darren Lee sold 3,250 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $75.26, for a total value of $244,595.00. Following the completion of the transaction, the senior vice president now owns 4,131 shares of the company’s stock, valued at $310,899.06. The disclosure for this sale can be found here. Insiders sold 189,549 shares of company stock valued at $16,234,464 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.
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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.
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