Proofpoint Inc (NASDAQ:PFPT) – Stock analysts at Wedbush cut their Q1 2018 earnings per share estimates for shares of Proofpoint in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Wedbush analyst S. Koenig now expects that the software maker will post earnings of ($0.27) per share for the quarter, down from their previous estimate of ($0.26). Wedbush has a “Outperform” rating and a $114.00 price objective on the stock. Wedbush also issued estimates for Proofpoint’s Q2 2018 earnings at ($0.30) EPS, Q3 2018 earnings at ($0.22) EPS, Q4 2018 earnings at ($0.17) EPS and FY2018 earnings at ($0.96) EPS.
Proofpoint (NASDAQ:PFPT) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. The firm had revenue of $145.40 million for the quarter, compared to the consensus estimate of $139.61 million. Proofpoint had a negative net margin of 16.37% and a negative return on equity of 54.09%. The company’s quarterly revenue was up 36.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS.
Several other research firms also recently weighed in on PFPT. Deutsche Bank reissued a “buy” rating and set a $114.00 target price on shares of Proofpoint in a research report on Tuesday, January 30th. BidaskClub raised shares of Proofpoint from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 26th. Piper Jaffray reissued a “buy” rating and set a $123.00 target price on shares of Proofpoint in a research report on Friday, March 2nd. Zacks Investment Research downgraded shares of Proofpoint from a “buy” rating to a “hold” rating in a research report on Thursday, December 28th. Finally, Robert W. Baird boosted their target price on shares of Proofpoint from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $113.04.
NASDAQ:PFPT traded down $1.19 during trading hours on Friday, hitting $112.46. 533,531 shares of the company were exchanged, compared to its average volume of 633,097. The company has a market cap of $5,744.59, a PE ratio of -85.85 and a beta of 1.18. Proofpoint has a 52-week low of $70.30 and a 52-week high of $123.87. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85.
In related news, Chairman Eric Hahn sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $118.91, for a total value of $594,550.00. Following the completion of the transaction, the chairman now directly owns 23,001 shares in the company, valued at approximately $2,735,048.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Bhagwat Swaroop sold 900 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $98.86, for a total transaction of $88,974.00. Following the completion of the transaction, the executive vice president now owns 4,077 shares of the company’s stock, valued at $403,052.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,120 shares of company stock valued at $13,359,684. Company insiders own 5.96% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. acquired a new position in Proofpoint during the second quarter worth $253,000. JPMorgan Chase & Co. raised its position in Proofpoint by 133.9% during the third quarter. JPMorgan Chase & Co. now owns 870,784 shares of the software maker’s stock worth $76,551,000 after acquiring an additional 498,462 shares during the period. Public Employees Retirement System of Ohio raised its position in Proofpoint by 13.5% during the third quarter. Public Employees Retirement System of Ohio now owns 22,870 shares of the software maker’s stock worth $1,995,000 after acquiring an additional 2,728 shares during the period. Campbell & CO Investment Adviser LLC raised its position in Proofpoint by 126.4% during the third quarter. Campbell & CO Investment Adviser LLC now owns 8,328 shares of the software maker’s stock worth $726,000 after acquiring an additional 4,650 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Proofpoint by 8.1% during the third quarter. Artisan Partners Limited Partnership now owns 3,012,092 shares of the software maker’s stock worth $262,715,000 after acquiring an additional 225,970 shares during the period.
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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