Proofpoint, Inc. (PFPT) Announces Earnings Results, Beats Estimates By $0.07 EPS
Proofpoint, Inc. (NASDAQ:PFPT) released its quarterly earnings results on Thursday. The software maker reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07, Bloomberg Earnings reports. The company had revenue of $134.30 million during the quarter, compared to analysts’ expectations of $131.48 million. Proofpoint had a negative return on equity of 140.24% and a negative net margin of 20.96%. Proofpoint’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 EPS. Proofpoint updated its Q4 guidance to $0.19-0.21 EPS and its FY18 guidance to $0.96-1.03 EPS.
Shares of Proofpoint (PFPT) opened at 95.10 on Friday. The stock’s market capitalization is $4.22 billion. The stock has a 50 day moving average price of $91.31 and a 200-day moving average price of $86.32. Proofpoint has a 52-week low of $69.19 and a 52-week high of $97.00.
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A number of research firms recently weighed in on PFPT. Evercore ISI reaffirmed a “buy” rating and issued a $105.00 price target on shares of Proofpoint in a report on Friday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $114.00 price target (up previously from $100.00) on shares of Proofpoint in a report on Wednesday. Stifel Nicolaus set a $100.00 price target on Proofpoint and gave the stock a “buy” rating in a report on Monday. Piper Jaffray Companies set a $100.00 price target on Proofpoint and gave the stock a “buy” rating in a report on Sunday, October 15th. Finally, Monness Crespi & Hardt began coverage on Proofpoint in a report on Monday. They issued a “buy” rating and a $110.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $100.08.
In other Proofpoint news, CEO Gary Steele sold 40,000 shares of Proofpoint stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $88.60, for a total value of $3,544,000.00. Following the completion of the sale, the chief executive officer now directly owns 88,551 shares of the company’s stock, valued at approximately $7,845,618.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracey Newell sold 8,183 shares of Proofpoint stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $94.82, for a total transaction of $775,912.06. Following the completion of the sale, the executive vice president now directly owns 25,001 shares of the company’s stock, valued at $2,370,594.82. The disclosure for this sale can be found here. Insiders sold a total of 168,549 shares of company stock valued at $15,226,339 over the last ninety days. 6.80% of the stock is owned by corporate insiders.
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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