Q1 2018 EPS Estimates for Proofpoint Inc Raised by Wedbush (PFPT)

Proofpoint Inc (NASDAQ:PFPT) – Research analysts at Wedbush boosted their Q1 2018 EPS estimates for shares of Proofpoint in a research note issued on Wednesday. Wedbush analyst S. Koenig now anticipates that the software maker will post earnings per share of ($0.26) for the quarter, up from their prior estimate of ($0.28). Wedbush currently has a “Outperform” rating and a $114.00 target price on the stock. Wedbush also issued estimates for Proofpoint’s Q3 2018 earnings at ($0.17) EPS, Q4 2018 earnings at ($0.14) EPS and FY2018 earnings at ($0.84) EPS.

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

PFPT has been the topic of several other reports. Zacks Investment Research upgraded Proofpoint from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Wednesday, December 27th. Monness Crespi & Hardt increased their target price on Proofpoint from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. TheStreet upgraded Proofpoint from a “d” rating to a “c-” rating in a report on Wednesday, February 7th. Piper Jaffray Companies set a $100.00 target price on Proofpoint and gave the company a “buy” rating in a report on Sunday, October 15th. Finally, BidaskClub upgraded 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 given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $107.63.

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

Large investors have recently made changes to their positions in the company. Exane Derivatives raised its position in shares of Proofpoint by 901.8% in the 4th quarter. Exane Derivatives now owns 1,713 shares of the software maker’s stock worth $152,000 after acquiring an additional 1,542 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Proofpoint in the 2nd quarter worth approximately $215,000. Gotham Asset Management LLC bought a new position in shares of Proofpoint in the 2nd quarter worth approximately $222,000. Sigma Planning Corp bought a new position in shares of Proofpoint in the 4th quarter worth approximately $238,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Proofpoint in the 2nd quarter worth approximately $253,000.

In other Proofpoint news, CEO Gary Steele sold 40,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $90.88, for a total value of $3,635,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $89.48, for a total value of $447,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 162,549 shares of company stock valued at $14,633,456. Company 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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