Analysts Expect Proofpoint Inc (PFPT) Will Post Quarterly Sales of $181.64 Million

Wall Street brokerages forecast that Proofpoint Inc (NASDAQ:PFPT) will announce sales of $181.64 million for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Proofpoint’s earnings. The highest sales estimate is $183.70 million and the lowest is $180.80 million. Proofpoint reported sales of $134.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 35.2%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, October 25th.

On average, analysts expect that Proofpoint will report full-year sales of $708.05 million for the current financial year, with estimates ranging from $704.03 million to $713.20 million. For the next year, analysts anticipate that the firm will post sales of $903.63 million, with estimates ranging from $885.00 million to $971.90 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Proofpoint.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, July 26th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.09. The company had revenue of $171.90 million during the quarter, compared to analysts’ expectations of $169.46 million. Proofpoint had a negative return on equity of 16.48% and a negative net margin of 12.93%. Proofpoint’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS.

A number of research firms have commented on PFPT. Deutsche Bank lowered their price target on Proofpoint to $125.00 and set a “buy” rating for the company in a research report on Monday, October 1st. Zacks Investment Research lowered Proofpoint from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. BidaskClub lowered Proofpoint from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. ValuEngine lowered Proofpoint from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 18th. Finally, Morgan Stanley upped their price target on Proofpoint from $135.00 to $139.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $132.00.

In related news, EVP Bhagwat Swaroop sold 1,634 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $117.93, for a total value of $192,697.62. Following the sale, the executive vice president now owns 2,291 shares in the company, valued at approximately $270,177.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary Steele sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $62.54, for a total value of $6,254,000.00. Following the completion of the sale, the chief executive officer now owns 121,074 shares in the company, valued at approximately $7,571,967.96. The disclosure for this sale can be found here. Insiders sold a total of 386,060 shares of company stock valued at $39,124,072 in the last three months. Corporate insiders own 3.37% of the company’s stock.

Several institutional investors have recently bought and sold shares of PFPT. Aperio Group LLC boosted its stake in Proofpoint by 7.6% during the 2nd quarter. Aperio Group LLC now owns 9,633 shares of the software maker’s stock valued at $1,111,000 after purchasing an additional 684 shares during the last quarter. Gideon Capital Advisors Inc. boosted its stake in Proofpoint by 37.3% during the 1st quarter. Gideon Capital Advisors Inc. now owns 3,145 shares of the software maker’s stock valued at $357,000 after purchasing an additional 854 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Proofpoint by 6.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,597 shares of the software maker’s stock valued at $1,683,000 after purchasing an additional 877 shares during the last quarter. Federated Investors Inc. PA boosted its stake in Proofpoint by 181.1% during the 2nd quarter. Federated Investors Inc. PA now owns 1,386 shares of the software maker’s stock valued at $160,000 after purchasing an additional 893 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Proofpoint by 2.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 37,175 shares of the software maker’s stock valued at $4,287,000 after purchasing an additional 1,060 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

PFPT traded down $5.37 during midday trading on Friday, reaching $94.30. 21,839 shares of the company’s stock traded hands, compared to its average volume of 749,033. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of -74.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.65 and a quick ratio of 0.65. Proofpoint has a 52 week low of $82.61 and a 52 week high of $130.27.

About Proofpoint

Proofpoint, Inc operates as a security-as-a-service (SaaS) 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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