Proofpoint Inc (NASDAQ:PFPT) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.11-0.13 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.11. The company issued revenue guidance of $118-120 million, compared to the consensus revenue estimate of $118.18 million.Proofpoint also updated its FY17 guidance to $0.56-0.59 EPS.
Proofpoint Inc (NASDAQ:PFPT) opened at 82.18 on Friday. The firm’s 50-day moving average price is $77.55 and its 200 day moving average price is $78.04. The stock’s market cap is $3.59 billion. Proofpoint Inc has a 12 month low of $54.13 and a 12 month high of $88.48.
Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, April 20th. The software maker reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The firm had revenue of $113.30 million during the quarter, compared to the consensus estimate of $110.60 million. Proofpoint had a negative return on equity of 110.22% and a negative net margin of 29.62%. The firm’s revenue was up 43.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) EPS. On average, analysts anticipate that Proofpoint Inc will post $0.58 earnings per share for the current year.
Several research firms have commented on PFPT. Zacks Investment Research raised Proofpoint from a sell rating to a hold rating in a research note on Friday, January 27th. Dougherty & Co boosted their target price on Proofpoint from $88.00 to $90.00 and gave the stock a buy rating in a research report on Friday, January 27th. Wedbush boosted their target price on Proofpoint from $87.00 to $90.00 and gave the stock an outperform rating in a research report on Friday, January 27th. Royal Bank of Canada boosted their target price on Proofpoint from $85.00 to $92.00 and gave the stock an outperform rating in a research report on Friday, January 27th. Finally, DA Davidson reiterated a neutral rating and set a $79.00 target price on shares of Proofpoint in a research report on Tuesday, January 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-two have issued a buy rating to the company. Proofpoint has a consensus rating of Buy and a consensus price target of $84.50.
In related news, EVP Tracey Newell sold 8,183 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $84.14, for a total value of $688,517.62. Following the sale, the executive vice president now owns 14,730 shares of the company’s stock, valued at approximately $1,239,382.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary Steele sold 40,000 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $80.38, for a total value of $3,215,200.00. Following the transaction, the chief executive officer now directly owns 61,780 shares in the company, valued at approximately $4,965,876.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 211,799 shares of company stock worth $16,823,632. 6.80% of the stock is owned by corporate insiders.
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An institutional investor recently raised its position in Proofpoint stock. Renaissance Technologies LLC raised its position in Proofpoint Inc (NASDAQ:PFPT) by 291.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,900 shares of the software maker’s stock after buying an additional 29,700 shares during the period. Renaissance Technologies LLC owned approximately 0.09% of Proofpoint worth $2,967,000 at the end of the most recent quarter.
Proofpoint Company Profile
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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