Zacks: Brokerages Expect Proofpoint Inc (PFPT) to Announce $0.34 Earnings Per Share

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Brokerages expect that Proofpoint Inc (NASDAQ:PFPT) will announce earnings of $0.34 per share for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Proofpoint’s earnings. The highest EPS estimate is $0.38 and the lowest is $0.32. Proofpoint reported earnings per share of $0.30 in the same quarter last year, which suggests a positive year-over-year growth rate of 13.3%. The firm is expected to announce its next quarterly earnings results on Thursday, April 25th.

According to Zacks, analysts expect that Proofpoint will report full-year earnings of $1.66 per share for the current year, with EPS estimates ranging from $1.63 to $1.74. For the next year, analysts anticipate that the firm will report earnings of $2.20 per share, with EPS estimates ranging from $1.92 to $2.49. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Proofpoint.

Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Thursday, January 31st. The software maker reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.15. Proofpoint had a negative net margin of 14.47% and a negative return on equity of 13.40%. The company had revenue of $198.48 million for the quarter, compared to the consensus estimate of $192.92 million.

Several brokerages have issued reports on PFPT. Morgan Stanley lowered their price objective on shares of Proofpoint from $134.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, October 29th. Deutsche Bank downgraded shares of Proofpoint from a “buy” rating to a “hold” rating and lowered their target price for the company from $125.00 to $95.00 in a report on Friday, October 26th. Goldman Sachs Group raised shares of Proofpoint from a “neutral” rating to a “buy” rating and set a $114.00 target price on the stock in a report on Monday, October 29th. Zacks Investment Research raised shares of Proofpoint from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Monday, February 11th. Finally, Monness Crespi & Hardt lowered their target price on shares of Proofpoint from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Proofpoint currently has an average rating of “Buy” and a consensus target price of $123.65.

Proofpoint stock traded down $0.40 during midday trading on Thursday, hitting $120.75. 776,608 shares of the company’s stock were exchanged, compared to its average volume of 705,837. Proofpoint has a 12-month low of $75.92 and a 12-month high of $130.27. The company has a market capitalization of $6.62 billion, a P/E ratio of -105.00 and a beta of 1.76.

In other Proofpoint news, EVP David Knight sold 1,500 shares of Proofpoint stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $101.43, for a total transaction of $152,145.00. Following the completion of the transaction, the executive vice president now owns 11,814 shares in the company, valued at $1,198,294.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary Steele sold 50,000 shares of Proofpoint stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $95.31, for a total transaction of $4,765,500.00. The disclosure for this sale can be found here. Insiders sold 112,731 shares of company stock valued at $10,961,032 in the last quarter. Company insiders own 3.37% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank raised its position in Proofpoint by 63.0% during the fourth quarter. Amalgamated Bank now owns 11,259 shares of the software maker’s stock worth $944,000 after acquiring an additional 4,352 shares during the last quarter. Millennium Management LLC raised its position in Proofpoint by 0.8% during the fourth quarter. Millennium Management LLC now owns 608,634 shares of the software maker’s stock worth $51,010,000 after acquiring an additional 4,714 shares during the last quarter. Potrero Capital Research LLC acquired a new position in Proofpoint during the fourth quarter worth about $3,621,000. Thrivent Financial for Lutherans raised its position in Proofpoint by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 227,771 shares of the software maker’s stock worth $19,090,000 after acquiring an additional 873 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in Proofpoint by 40.5% during the fourth quarter. Segall Bryant & Hamill LLC now owns 44,327 shares of the software maker’s stock worth $3,715,000 after acquiring an additional 12,782 shares during the last quarter. Institutional investors own 97.86% of the company’s stock.

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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