Analysts expect Proofpoint, Inc. (NASDAQ:PFPT) to report $120.40 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Proofpoint’s earnings, with the lowest sales estimate coming in at $119.05 million and the highest estimate coming in at $123.33 million. Proofpoint reported sales of $89.90 million during the same quarter last year, which suggests a positive year-over-year growth rate of 33.9%. The company is scheduled to announce its next quarterly earnings report after the market closes on Thursday, July 27th.
On average, analysts expect that Proofpoint will report full year sales of $120.40 million for the current fiscal year, with estimates ranging from $491.57 million to $506.62 million. For the next fiscal year, analysts anticipate that the company will report sales of $644.20 million per share, with estimates ranging from $635.44 million to $658.20 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Proofpoint.
Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, April 20th. The software maker reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.03. Proofpoint had a negative net margin of 25.63% and a negative return on equity of 126.46%. The firm had revenue of $113.30 million for the quarter, compared to the consensus estimate of $110.60 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue was up 43.4% on a year-over-year basis.
A number of research firms recently issued reports on PFPT. DA Davidson raised Proofpoint from a “neutral” rating to a “buy” rating and increased their target price for the stock from $83.00 to $90.00 in a research note on Wednesday, April 19th. Wedbush increased their target price on Proofpoint from $90.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. FBN Securities began coverage on Proofpoint in a research note on Monday, May 22nd. They set an “outperform” rating and a $95.00 target price for the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 price target (up from $85.00) on shares of Proofpoint in a research note on Sunday, April 23rd. Finally, Evercore ISI set a $90.00 price target on shares of Proofpoint and gave the stock a “buy” rating in a research note on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $86.95.
Shares of Proofpoint (PFPT) traded up 0.80% on Friday, reaching $88.63. 858,188 shares of the company were exchanged. The stock has a 50 day moving average price of $85.13 and a 200-day moving average price of $79.25. The stock’s market capitalization is $3.87 billion. Proofpoint has a 12 month low of $57.13 and a 12 month high of $94.33.
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In other Proofpoint news, SVP Robert Darren Lee sold 2,750 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $87.75, for a total transaction of $241,312.50. Following the completion of the sale, the senior vice president now owns 7,619 shares of the company’s stock, valued at approximately $668,567.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Knight sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $92.45, for a total value of $277,350.00. Following the sale, the executive vice president now directly owns 16,874 shares of the company’s stock, valued at approximately $1,560,001.30. The disclosure for this sale can be found here. Insiders sold 195,732 shares of company stock valued at $15,968,112 over the last three months. 6.80% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in PFPT. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Proofpoint by 242.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,578 shares of the software maker’s stock valued at $113,000 after buying an additional 1,117 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Proofpoint by 400.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,500 shares of the software maker’s stock valued at $185,000 after buying an additional 2,000 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Proofpoint by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,897 shares of the software maker’s stock valued at $215,000 after buying an additional 446 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Proofpoint during the first quarter valued at about $220,000. Finally, Acrospire Investment Management LLC increased its stake in shares of Proofpoint by 113.4% in the first quarter. Acrospire Investment Management LLC now owns 2,987 shares of the software maker’s stock valued at $222,000 after buying an additional 1,587 shares in the last 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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