$199.59 Million in Sales Expected for Proofpoint Inc (PFPT) This Quarter

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Brokerages expect that Proofpoint Inc (NASDAQ:PFPT) will announce sales of $199.59 million for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Proofpoint’s earnings. The lowest sales estimate is $198.23 million and the highest is $201.10 million. Proofpoint reported sales of $162.46 million in the same quarter last year, which indicates a positive year over year growth rate of 22.9%. The business is expected to announce its next earnings results after the market closes on Thursday, April 25th.

According to Zacks, analysts expect that Proofpoint will report full-year sales of $873.92 million for the current financial year, with estimates ranging from $871.09 million to $880.27 million. For the next financial year, analysts expect that the firm will report sales of $1.06 billion, with estimates ranging from $1.02 billion to $1.08 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Proofpoint.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, January 31st. The software maker reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.15. Proofpoint had a negative return on equity of 12.20% and a negative net margin of 14.47%. The business had revenue of $198.48 million during the quarter, compared to analysts’ expectations of $192.92 million.

PFPT has been the subject of a number of research analyst reports. Monness Crespi & Hardt increased their target price on shares of Proofpoint from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 1st. BidaskClub raised Proofpoint from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research raised Proofpoint from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Monday, December 31st. Guggenheim initiated coverage on Proofpoint in a report on Monday, December 10th. They set a “buy” rating and a $110.00 price target for the company. Finally, Morgan Stanley set a $120.00 price target on Proofpoint and gave the company a “buy” rating in a research note on Saturday, February 2nd. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $124.05.

Proofpoint stock traded up $1.54 during mid-day trading on Wednesday, hitting $119.13. The company’s stock had a trading volume of 589,938 shares, compared to its average volume of 556,658. The company has a market cap of $6.51 billion, a P/E ratio of -103.59 and a beta of 1.83. Proofpoint has a 52-week low of $75.92 and a 52-week high of $130.27.

In related news, CFO Paul R. Auvil III sold 30,000 shares of Proofpoint stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $121.23, for a total value of $3,636,900.00. Following the transaction, the chief financial officer now owns 104,192 shares in the company, valued at approximately $12,631,196.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary Steele sold 20,000 shares of Proofpoint stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $122.16, for a total transaction of $2,443,200.00. Following the completion of the transaction, the chief executive officer now owns 162,209 shares in the company, valued at approximately $19,815,451.44. The disclosure for this sale can be found here. Insiders sold a total of 69,782 shares of company stock worth $8,356,989 over the last three months. 3.37% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in PFPT. MML Investors Services LLC raised its position in shares of Proofpoint by 0.9% during the fourth quarter. MML Investors Services LLC now owns 9,399 shares of the software maker’s stock valued at $788,000 after buying an additional 88 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Proofpoint by 47.0% in the 3rd quarter. Nordea Investment Management AB now owns 38,848 shares of the software maker’s stock worth $4,130,000 after acquiring an additional 12,420 shares during the period. Thornburg Investment Management Inc. lifted its position in shares of Proofpoint by 90.4% in the 4th quarter. Thornburg Investment Management Inc. now owns 123,938 shares of the software maker’s stock worth $10,387,000 after acquiring an additional 58,838 shares during the period. Handelsinvest Investeringsforvaltning grew its holdings in shares of Proofpoint by 19.9% during the 4th quarter. Handelsinvest Investeringsforvaltning now owns 41,248 shares of the software maker’s stock worth $3,457,000 after purchasing an additional 6,848 shares in the last quarter. Finally, Mondrian Capital Management LLC acquired a new stake in shares of Proofpoint during the 4th quarter worth approximately $84,000. Institutional investors own 95.85% of the company’s stock.

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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