Wedbush Comments on Proofpoint Inc’s Q1 2020 Earnings (NASDAQ:PFPT)

Proofpoint Inc (NASDAQ:PFPT) – Wedbush reduced their Q1 2020 earnings per share (EPS) estimates for Proofpoint in a note issued to investors on Monday, March 23rd. Wedbush analyst S. Koenig now forecasts that the software maker will post earnings per share of ($0.45) for the quarter, down from their prior forecast of ($0.44). Wedbush also issued estimates for Proofpoint’s Q2 2020 earnings at ($0.32) EPS, Q3 2020 earnings at ($0.28) EPS, Q4 2020 earnings at ($0.19) EPS, FY2020 earnings at ($1.24) EPS and FY2021 earnings at ($0.78) EPS.

Several other analysts have also recently commented on the company. BidaskClub cut Proofpoint from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 4th. First Analysis upgraded Proofpoint from an “outperform” rating to a “strong-buy” rating and set a $143.00 target price on the stock in a report on Wednesday, March 4th. Robert W. Baird reiterated a “buy” rating and issued a $145.00 target price on shares of Proofpoint in a report on Friday, January 31st. Zacks Investment Research cut Proofpoint from a “hold” rating to a “sell” rating and set a $128.00 target price on the stock. in a report on Wednesday, January 8th. Finally, DA Davidson initiated coverage on Proofpoint in a report on Monday, January 13th. They issued a “buy” rating and a $140.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $143.40.

Shares of PFPT stock opened at $102.27 on Thursday. The business’s 50 day simple moving average is $112.88 and its 200 day simple moving average is $119.09. Proofpoint has a one year low of $83.81 and a one year high of $133.58. The stock has a market capitalization of $5.70 billion, a PE ratio of -43.89 and a beta of 1.61. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.59 and a quick ratio of 1.59.

Proofpoint (NASDAQ:PFPT) last released its quarterly earnings results on Thursday, January 30th. The software maker reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.61. The company had revenue of $243.40 million for the quarter, compared to analysts’ expectations of $239.11 million. Proofpoint had a negative return on equity of 8.73% and a negative net margin of 14.67%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 earnings per share.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. raised its holdings in Proofpoint by 42.3% during the fourth quarter. Macquarie Group Ltd. now owns 476,538 shares of the software maker’s stock worth $54,697,000 after buying an additional 141,761 shares during the last quarter. Norges Bank acquired a new position in shares of Proofpoint during the fourth quarter valued at about $56,275,000. Geode Capital Management LLC grew its holdings in shares of Proofpoint by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 620,137 shares of the software maker’s stock valued at $71,178,000 after buying an additional 27,146 shares during the last quarter. Bamco Inc. NY increased its position in shares of Proofpoint by 0.4% during the fourth quarter. Bamco Inc. NY now owns 30,689 shares of the software maker’s stock worth $3,522,000 after acquiring an additional 114 shares in the last quarter. Finally, Brinker Capital Inc. increased its position in shares of Proofpoint by 13.8% during the fourth quarter. Brinker Capital Inc. now owns 7,572 shares of the software maker’s stock worth $869,000 after acquiring an additional 917 shares in the last quarter. 96.94% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Bhagwat Swaroop sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $122.02, for a total transaction of $610,100.00. Following the completion of the sale, the executive vice president now owns 5,726 shares in the company, valued at $698,686.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Paul R. Auvil III sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $125.10, for a total value of $3,127,500.00. Following the transaction, the chief financial officer now directly owns 94,831 shares in the company, valued at $11,863,358.10. The disclosure for this sale can be found here. Insiders have sold a total of 82,500 shares of company stock worth $10,014,500 in the last three months. Insiders own 2.93% of the company’s stock.

Proofpoint Company Profile

Proofpoint, Inc operates as a security-as-a-service 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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