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

Brokerages forecast that Proofpoint Inc (NASDAQ:PFPT) will report $199.59 million in sales for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Proofpoint’s earnings, with the highest sales estimate coming in at $201.10 million and the lowest estimate coming in at $198.23 million. Proofpoint reported sales of $162.46 million in the same quarter last year, which would suggest a positive year over year growth rate of 22.9%. The business is expected to issue its next quarterly earnings report on Thursday, April 25th.

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

Proofpoint (NASDAQ:PFPT) last announced its quarterly earnings data on Thursday, January 31st. The software maker reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.15. Proofpoint had a negative net margin of 14.47% and a negative return on equity of 12.20%. The firm had revenue of $198.48 million during the quarter, compared to analyst estimates of $192.92 million.

A number of brokerages recently issued reports on PFPT. BidaskClub raised shares of Proofpoint from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley upped their target price on shares of Proofpoint from $120.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 target price (up previously from $130.00) on shares of Proofpoint in a research report on Tuesday. ValuEngine cut shares of Proofpoint from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 5th. Finally, Zacks Investment Research cut shares of Proofpoint from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. Two analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $124.26.

Shares of PFPT traded up $0.85 during mid-day trading on Monday, reaching $122.17. The stock had a trading volume of 29,783 shares, compared to its average volume of 509,772. Proofpoint has a 52-week low of $75.92 and a 52-week high of $130.27. The firm has a market capitalization of $6.59 billion, a P/E ratio of -106.28 and a beta of 1.83.

In other Proofpoint news, Director Richard Scott Herren sold 3,200 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $117.00, for a total value of $374,400.00. Following the completion of the sale, the director now owns 13,228 shares of the company’s stock, valued at $1,547,676. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Knight sold 1,500 shares of the firm’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $101.43, for a total value of $152,145.00. Following the completion of the sale, the executive vice president now directly owns 11,814 shares of the company’s stock, valued at approximately $1,198,294.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,782 shares of company stock worth $1,910,979. 3.37% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Proofpoint by 3.2% in the third quarter. Vanguard Group Inc. now owns 4,460,432 shares of the software maker’s stock worth $474,277,000 after purchasing an additional 137,876 shares in the last quarter. Vanguard Group Inc increased its holdings in Proofpoint by 3.2% in the third quarter. Vanguard Group Inc now owns 4,460,432 shares of the software maker’s stock valued at $474,277,000 after purchasing an additional 137,876 shares during the period. BlackRock Inc. grew its stake in shares of Proofpoint by 1.0% in the 3rd quarter. BlackRock Inc. now owns 2,488,546 shares of the software maker’s stock valued at $264,607,000 after buying an additional 25,562 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of Proofpoint by 149.9% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,812,611 shares of the software maker’s stock valued at $192,735,000 after buying an additional 1,087,297 shares during the period. Finally, FMR LLC grew its stake in shares of Proofpoint by 9.5% in the 4th quarter. FMR LLC now owns 1,661,727 shares of the software maker’s stock valued at $139,269,000 after buying an additional 144,796 shares during the period. 95.99% of the stock is owned by institutional investors.

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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