Proofpoint, Inc. (NASDAQ:PFPT) Issues FY18 Earnings Guidance

Proofpoint, Inc. (NASDAQ:PFPT) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.96-1.03 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.00. The company issued revenue guidance of $644-648 million, compared to the consensus revenue estimate of $648.80 million.Proofpoint also updated its Q4 guidance to $0.19-0.21 EPS.

Proofpoint, Inc. (NASDAQ:PFPT) traded down 1.42% during trading on Friday, reaching $89.40. The company’s stock had a trading volume of 546,880 shares. The firm’s market capitalization is $3.97 billion. The stock has a 50-day moving average of $91.32 and a 200 day moving average of $87.04. Proofpoint, Inc. has a one year low of $69.19 and a one year high of $97.92.

Proofpoint (NASDAQ:PFPT) last issued its earnings results on Thursday, October 19th. The software maker reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. The business had revenue of $134.30 million for the quarter, compared to analyst estimates of $131.48 million. Proofpoint had a negative net margin of 20.19% and a negative return on equity of 152.53%. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 EPS. On average, equities research analysts predict that Proofpoint, Inc. will post $0.75 EPS for the current fiscal year.

Several research firms have commented on PFPT. Royal Bank Of Canada restated a buy rating and issued a $103.00 target price on shares of Proofpoint in a research report on Thursday, August 31st. Wedbush restated an outperform rating and issued a $104.00 target price (up previously from $98.00) on shares of Proofpoint in a research report on Friday, July 28th. Piper Jaffray Companies set a $100.00 target price on shares of Proofpoint and gave the stock a buy rating in a research report on Sunday, October 15th. Evercore ISI set a $105.00 price objective on shares of Proofpoint and gave the company a buy rating in a report on Friday, October 20th. Finally, Robert W. Baird reiterated a hold rating and issued a $100.00 price objective (up from $95.00) on shares of Proofpoint in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $101.70.

In other Proofpoint news, CEO Gary Steele sold 40,000 shares of the firm’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $92.35, for a total value of $3,694,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Tracey Newell sold 8,183 shares of the firm’s stock in a transaction 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 owns 25,001 shares in the company, 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 worth $15,226,339 over the last quarter. 6.80% of the stock is currently owned by company insiders.

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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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