Wall Street analysts predict that Proofpoint, Inc. (NASDAQ:PFPT) will announce sales of $120.40 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued 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 posted sales of $89.90 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.9%. The firm is scheduled to report its next earnings results 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 financial year, analysts expect that the firm 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 analysts that cover Proofpoint.
Proofpoint (NASDAQ:PFPT) last posted its earnings results 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 company had revenue of $113.30 million for the quarter, compared to analysts’ expectations of $110.60 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Proofpoint’s revenue for the quarter was up 43.4% compared to the same quarter last year.
A number of equities analysts have issued reports on PFPT shares. Goldman Sachs Group, Inc. (The) lowered Proofpoint from a “neutral” rating to a “sell” rating and set a $69.00 target price on the stock. in a research report on Thursday, March 23rd. Zacks Investment Research downgraded Proofpoint from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Robert W. Baird downgraded Proofpoint from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $77.00 in a report on Thursday, April 20th. DA Davidson upgraded Proofpoint from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $90.00 in a research note on Wednesday, April 19th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Proofpoint in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $88.09.
Proofpoint (NASDAQ PFPT) traded down 0.49% on Thursday, reaching $92.71. 462,031 shares of the company’s stock were exchanged. Proofpoint has a 1-year low of $64.62 and a 1-year high of $94.33. The company’s market capitalization is $4.05 billion. The company has a 50 day moving average price of $87.73 and a 200-day moving average price of $81.44.
In other news, EVP Bhagwat Swaroop sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $85.17, for a total value of $425,850.00. Following the completion of the sale, the executive vice president now directly owns 13,161 shares in the company, valued at approximately $1,120,922.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Robert Darren Lee sold 3,250 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $75.26, for a total value of $244,595.00. Following the completion of the sale, the senior vice president now owns 4,131 shares of the company’s stock, valued at $310,899.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,549 shares of company stock valued at $16,234,464. Company insiders own 6.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PFPT. Legato Capital Management LLC acquired a new position in shares of Proofpoint during the second quarter valued at $204,000. Aperio Group LLC boosted its position in Proofpoint by 19.8% in the second quarter. Aperio Group LLC now owns 3,591 shares of the software maker’s stock valued at $312,000 after buying an additional 594 shares in the last quarter. Crow Point Partners LLC purchased a new position in Proofpoint during the second quarter valued at approximately $757,000. Creative Planning boosted its position in Proofpoint by 7.4% in the second quarter. Creative Planning now owns 2,232 shares of the software maker’s stock valued at $194,000 after buying an additional 154 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning boosted its position in Proofpoint by 79.2% in the second quarter. Handelsinvest Investeringsforvaltning now owns 34,400 shares of the software maker’s stock valued at $2,987,000 after buying an additional 15,200 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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