Q1 2018 EPS Estimates for Proofpoint Inc Cut by Oppenheimer (PFPT)

Proofpoint Inc (NASDAQ:PFPT) – Stock analysts at Oppenheimer lowered their Q1 2018 earnings per share estimates for shares of Proofpoint in a report issued on Wednesday. Oppenheimer analyst S. Eyal now expects that the software maker will earn ($0.34) per share for the quarter, down from their previous forecast of ($0.20). Oppenheimer currently has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Proofpoint’s Q2 2018 earnings at ($0.35) EPS, Q3 2018 earnings at ($0.27) EPS, Q4 2018 earnings at ($0.23) EPS, FY2018 earnings at ($1.18) EPS and FY2019 earnings at ($1.08) EPS.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. The business had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $139.61 million. Proofpoint had a negative return on equity of 131.99% and a negative net margin of 16.37%. The firm’s quarterly revenue was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS.

A number of other analysts have also recently issued reports on the company. TheStreet raised Proofpoint from a “d” rating to a “c-” rating in a report on Wednesday, February 7th. Imperial Capital increased their price objective on Proofpoint from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday. Dougherty & Co increased their price objective on Proofpoint from $108.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Stifel Nicolaus raised their price target on Proofpoint from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada raised their price target on Proofpoint from $100.00 to $112.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Proofpoint currently has a consensus rating of “Buy” and an average target price of $107.63.

Shares of Proofpoint (NASDAQ:PFPT) opened at $97.05 on Monday. The stock has a market capitalization of $4,174.61, a PE ratio of -50.81 and a beta of 1.39. The company has a debt-to-equity ratio of 11.57, a quick ratio of 1.51 and a current ratio of 1.51. Proofpoint has a 1-year low of $70.30 and a 1-year high of $104.62.

Institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. bought a new position in shares of Proofpoint during the 2nd quarter valued at about $253,000. JPMorgan Chase & Co. increased its holdings in shares of Proofpoint by 133.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock worth $76,551,000 after purchasing an additional 498,462 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Proofpoint by 13.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,870 shares of the software maker’s stock worth $1,995,000 after purchasing an additional 2,728 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in shares of Proofpoint by 126.4% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,328 shares of the software maker’s stock worth $726,000 after purchasing an additional 4,650 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Proofpoint by 8.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,012,092 shares of the software maker’s stock worth $262,715,000 after purchasing an additional 225,970 shares in the last quarter.

In other news, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $89.48, for a total transaction of $447,400.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gary Steele sold 40,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $90.88, for a total value of $3,635,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 162,549 shares of company stock worth $14,633,456 over the last quarter. Corporate insiders own 5.96% of the company’s stock.

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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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