$211.63 Million in Sales Expected for Proofpoint Inc (PFPT) This Quarter

Brokerages predict that Proofpoint Inc (NASDAQ:PFPT) will report sales of $211.63 million for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Proofpoint’s earnings. The lowest sales estimate is $210.92 million and the highest is $213.80 million. Proofpoint reported sales of $171.88 million in the same quarter last year, which indicates a positive year-over-year growth rate of 23.1%. The business is scheduled to announce its next earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Proofpoint will report full-year sales of $876.66 million for the current financial year, with estimates ranging from $872.00 million to $881.10 million. For the next fiscal year, analysts forecast that the firm will report sales of $1.06 billion, with estimates ranging from $1.02 billion to $1.10 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Proofpoint.

Proofpoint (NASDAQ:PFPT) last released its earnings results on Thursday, April 25th. The software maker reported ($0.33) EPS for the quarter, hitting analysts’ consensus estimates of ($0.33). The company had revenue of $202.90 million during the quarter, compared to analysts’ expectations of $199.32 million. Proofpoint had a negative net margin of 15.82% and a negative return on equity of 13.93%. Proofpoint’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS.

Several brokerages have issued reports on PFPT. Zacks Investment Research cut shares of Proofpoint from a “hold” rating to a “sell” rating in a research note on Monday, January 28th. BidaskClub raised shares of Proofpoint from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price (down previously from $125.00) on shares of Proofpoint in a research note on Friday, February 1st. Monness Crespi & Hardt lifted their target price on shares of Proofpoint from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 1st. Finally, ValuEngine raised shares of Proofpoint from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $132.43.

PFPT traded down $3.02 during trading on Friday, reaching $114.32. 7,563 shares of the company’s stock were exchanged, compared to its average volume of 531,950. Proofpoint has a 1 year low of $75.92 and a 1 year high of $131.43. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.53 billion, a PE ratio of -99.43 and a beta of 1.79.

In other Proofpoint news, Director Dana L. Evan sold 3,051 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $113.85, for a total value of $347,356.35. Following the transaction, the director now owns 8,783 shares of the company’s stock, valued at $999,944.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Knight sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $122.16, for a total transaction of $183,240.00. Following the completion of the transaction, the executive vice president now directly owns 18,089 shares in the company, valued at approximately $2,209,752.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 170,727 shares of company stock worth $20,630,323. Corporate insiders own 2.93% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MML Investors Services LLC lifted its position in Proofpoint by 0.9% in the fourth quarter. MML Investors Services LLC now owns 9,399 shares of the software maker’s stock valued at $788,000 after buying an additional 88 shares during the last quarter. Utah Retirement Systems increased its stake in Proofpoint by 1.6% during the first quarter. Utah Retirement Systems now owns 9,449 shares of the software maker’s stock worth $1,147,000 after purchasing an additional 149 shares during the period. Riverhead Capital Management LLC increased its stake in Proofpoint by 10.4% during the first quarter. Riverhead Capital Management LLC now owns 1,693 shares of the software maker’s stock worth $205,000 after purchasing an additional 160 shares during the period. Brandywine Managers LLC increased its stake in Proofpoint by 8.3% during the fourth quarter. Brandywine Managers LLC now owns 2,600 shares of the software maker’s stock worth $218,000 after purchasing an additional 200 shares during the period. Finally, Alps Advisors Inc. increased its stake in Proofpoint by 4.7% during the fourth quarter. Alps Advisors Inc. now owns 4,744 shares of the software maker’s stock worth $398,000 after purchasing an additional 212 shares during the period. 95.29% of the stock is currently owned by institutional investors.

About Proofpoint

Proofpoint, Inc operates as a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent ‘drive-by' downloads, malicious Web links, hybrid threats, malware free attacks, and other penetration tactics.

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