Proofpoint Inc (NASDAQ:PFPT) Expected to Announce Quarterly Sales of $239.23 Million

Analysts expect Proofpoint Inc (NASDAQ:PFPT) to post sales of $239.23 million for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Proofpoint’s earnings, with estimates ranging from $237.84 million to $240.90 million. Proofpoint posted sales of $198.48 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.5%. The firm is expected to announce its next quarterly earnings report on Thursday, January 30th.

On average, analysts expect that Proofpoint will report full year sales of $883.72 million for the current financial year, with estimates ranging from $882.60 million to $885.70 million. For the next year, analysts anticipate that the company will post sales of $1.07 billion, with estimates ranging from $1.05 billion to $1.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Proofpoint.

Proofpoint (NASDAQ:PFPT) last announced its earnings results on Thursday, October 24th. The software maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.39 by $0.10. Proofpoint had a negative net margin of 14.56% and a negative return on equity of 10.85%. The firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $224.32 million. During the same period last year, the company posted $0.40 EPS. The business’s quarterly revenue was up 23.5% on a year-over-year basis.

A number of equities analysts recently issued reports on PFPT shares. SunTrust Banks started coverage on Proofpoint in a report on Wednesday, October 2nd. They issued a “hold” rating and a $135.00 target price on the stock. FBN Securities set a $140.00 target price on Proofpoint and gave the stock a “buy” rating in a report on Friday, October 25th. Robert W. Baird reiterated a “buy” rating and issued a $145.00 target price on shares of Proofpoint in a report on Monday, November 4th. Morgan Stanley cut their target price on Proofpoint from $148.00 to $146.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Evercore ISI reiterated a “buy” rating and issued a $150.00 target price on shares of Proofpoint in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the company. Proofpoint has a consensus rating of “Buy” and a consensus price target of $143.05.

In related news, EVP David Knight sold 2,500 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $128.03, for a total transaction of $320,075.00. Following the transaction, the executive vice president now directly owns 7,328 shares of the company’s stock, valued at approximately $938,203.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary Steele sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $130.74, for a total value of $2,614,800.00. Following the transaction, the chief executive officer now directly owns 95,148 shares in the company, valued at $12,439,649.52. The disclosure for this sale can be found here. Insiders have sold a total of 55,479 shares of company stock valued at $6,859,916 over the last 90 days. 2.93% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Fulcrum Capital LLC purchased a new stake in shares of Proofpoint in the 3rd quarter valued at about $450,000. Quest Capital Management Inc. ADV bought a new stake in shares of Proofpoint during the third quarter worth $28,000. Robeco Institutional Asset Management B.V. acquired a new position in Proofpoint during the third quarter worth $32,000. Penserra Capital Management LLC acquired a new position in Proofpoint during the third quarter worth $51,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Proofpoint by 714.3% during the third quarter. Steward Partners Investment Advisory LLC now owns 456 shares of the software maker’s stock worth $58,000 after purchasing an additional 400 shares during the last quarter. 98.12% of the stock is currently owned by institutional investors.

Shares of PFPT traded up $0.74 during trading hours on Tuesday, reaching $113.60. The stock had a trading volume of 583,127 shares, compared to its average volume of 443,262. Proofpoint has a 12 month low of $78.69 and a 12 month high of $133.58. The firm has a 50-day simple moving average of $117.09 and a 200 day simple moving average of $119.60. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of -98.78 and a beta of 1.61.

Proofpoint Company Profile

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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