Proofpoint Inc (NASDAQ:PFPT) – Stock analysts at Oppenheimer dropped their Q1 2018 earnings estimates for shares of Proofpoint in a research note issued on Thursday. Oppenheimer analyst S. Eyal now expects that the software maker will post earnings of ($0.36) per share for the quarter, down from their prior forecast of ($0.34). Oppenheimer also issued estimates for Proofpoint’s Q2 2018 earnings at ($0.45) EPS, Q3 2018 earnings at ($0.35) EPS, Q4 2018 earnings at ($0.31) EPS, FY2018 earnings at ($1.47) EPS and FY2019 earnings at ($1.16) EPS.
Several other research firms have also recently issued reports on PFPT. Piper Jaffray Companies reissued an “overweight” rating and issued a $134.00 price objective on shares of Proofpoint in a research report on Friday, March 9th. Deutsche Bank boosted their price objective on shares of Proofpoint from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. William Blair reissued an “outperform” rating on shares of Proofpoint in a research report on Wednesday, March 14th. Wedbush reissued an “outperform” rating and issued a $114.00 price objective (down from $130.00) on shares of Proofpoint in a research report on Wednesday, March 7th. Finally, Dougherty & Co reissued a “buy” rating and issued a $125.00 price objective (up from $118.00) on shares of Proofpoint in a research report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Proofpoint has a consensus rating of “Buy” and an average price target of $110.75.
Shares of Proofpoint stock opened at $117.87 on Monday. The stock has a market cap of $5,999.34, a PE ratio of -61.71 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.06. Proofpoint has a 52-week low of $70.30 and a 52-week high of $123.87.
Proofpoint (NASDAQ:PFPT) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.08. The company had revenue of $145.40 million during the quarter, compared to analysts’ expectations of $139.61 million. Proofpoint had a negative net margin of 16.37% and a negative return on equity of 54.09%. The firm’s quarterly revenue was up 36.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS.
In related news, Chairman Eric Hahn sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $118.91, for a total transaction of $594,550.00. Following the completion of the sale, the chairman now owns 23,001 shares of the company’s stock, valued at $2,735,048.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracey Newell sold 8,187 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $106.35, for a total transaction of $870,687.45. Following the sale, the executive vice president now directly owns 24,723 shares of the company’s stock, valued at approximately $2,629,291.05. The disclosure for this sale can be found here. Insiders have sold 136,120 shares of company stock valued at $13,359,684 in the last three months. 5.96% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of PFPT. Carillon Tower Advisers Inc. purchased a new stake in Proofpoint during the fourth quarter valued at approximately $56,177,000. JPMorgan Chase & Co. increased its stake in Proofpoint by 133.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock valued at $76,551,000 after purchasing an additional 498,462 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Proofpoint by 25.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,348,936 shares of the software maker’s stock valued at $119,799,000 after purchasing an additional 271,581 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Proofpoint by 8.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,012,092 shares of the software maker’s stock valued at $262,715,000 after purchasing an additional 225,970 shares in the last quarter. Finally, Elk Creek Partners LLC acquired a new position in Proofpoint during the 3rd quarter valued at approximately $10,787,000.
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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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