Proofpoint Inc (PFPT) Expected to Post Quarterly Sales of $139.83 Million

Equities analysts predict that Proofpoint Inc (NASDAQ:PFPT) will post sales of $139.83 million for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for Proofpoint’s earnings, with the highest sales estimate coming in at $141.90 million and the lowest estimate coming in at $138.83 million. Proofpoint reported sales of $106.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 30.9%. The company is expected to report its next earnings results on Thursday, January 25th.

According to Zacks, analysts expect that Proofpoint will report full-year sales of $139.83 million for the current year, with estimates ranging from $508.00 million to $511.80 million. For the next fiscal year, analysts forecast that the company will post sales of $668.58 million per share, with estimates ranging from $662.00 million to $672.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Proofpoint.

Proofpoint (NASDAQ:PFPT) last released its earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.07. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 158.19%. The company had revenue of $134.30 million for the quarter, compared to the consensus estimate of $131.48 million. During the same quarter in the previous year, the company earned $0.19 EPS. Proofpoint’s quarterly revenue was up 34.6% compared to the same quarter last year.

A number of research analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $108.00 target price on shares of Proofpoint in a research report on Wednesday. Zacks Investment Research upgraded shares of Proofpoint from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Wednesday, December 27th. Macquarie restated an “outperform” rating and set a $103.00 price objective on shares of Proofpoint in a report on Tuesday, September 26th. BTIG Research restated a “buy” rating and set a $110.00 price objective on shares of Proofpoint in a report on Monday, September 11th. Finally, BidaskClub upgraded shares of Proofpoint from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $102.48.

Proofpoint (NASDAQ PFPT) traded up $1.99 during trading on Thursday, hitting $94.73. 397,824 shares of the company were exchanged, compared to its average volume of 421,400. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 11.57. Proofpoint has a 52 week low of $70.30 and a 52 week high of $97.92. The firm has a market cap of $4,250.00, a P/E ratio of -42.86 and a beta of 1.32.

In related news, CEO Gary Steele sold 40,000 shares of the stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $92.35, for a total transaction of $3,694,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracey Newell sold 8,183 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $94.82, for a total transaction of $775,912.06. Following the transaction, the executive vice president now owns 25,001 shares of the company’s stock, valued at approximately $2,370,594.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,549 shares of company stock valued at $14,428,402. 5.96% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. grew its position in Proofpoint by 57.9% during the second quarter. D.A. Davidson & CO. now owns 1,175 shares of the software maker’s stock valued at $102,000 after buying an additional 431 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Proofpoint during the second quarter valued at about $215,000. Bluestein R H & Co. bought a new position in Proofpoint during the second quarter valued at about $217,000. Gotham Asset Management LLC bought a new position in Proofpoint during the second quarter valued at about $222,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Proofpoint by 17.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,724 shares of the software maker’s stock valued at $235,000 after buying an additional 409 shares during the period.

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About Proofpoint

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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